HubSpot, the Cambridge-based marketing and sales software company, is eliminating nearly 660 jobs, about 7% of its workforce, under a restructuring plan its board approved on Oct. 1, 2026, according to a filing with the U.S. Securities and Exchange Commission. The company expects to record $65 million to $75 million in charges for the HubSpot layoffs, mostly in the fourth quarter of 2026, and says the cuts should be substantially complete by the end of March 2027.
HubSpot layoffs at a glance
- Size: nearly 660 employees, about 7% of the company, per the Oct. 6 Form 8-K and CEO Yamini Rangan’s letter to staff filed with it.
- Cost: an estimated $65 million to $75 million, mostly cash spent on severance, notice-period pay, transition support and benefits.
- Timeline: board approval Oct. 1; announcement Oct. 6; role eliminations substantially complete by the end of the first quarter of 2027, subject to local laws and consultation rules; substantially all cash payments made by June 30, 2027.
- Massachusetts impact: not yet disclosed. Boston.com reported that the company did not say how many Massachusetts employees are affected, and the state WARN list The Boston Report reviewed on Oct. 26, covering notices received since July, did not include a HubSpot filing.
What HubSpot told the SEC
In the Form 8-K filed Oct. 6, HubSpot said the plan is designed to create “a flatter, faster organization” aligned with a strategy that focuses on delivering customer outcomes. The company said it will exclude the restructuring charges from its non-GAAP results and guidance. In the same filing, it reaffirmed the third-quarter and full-year 2026 revenue, non-GAAP operating income and non-GAAP earnings-per-share guidance it first gave on Aug. 5, and said it remains confident in the longer-term operating margin targets it shared at its Sept. 17 Analyst Day.
The filing also warns that the charges and timing rest on assumptions, and that actual costs could differ, including because of consultation requirements in countries outside the United States.
Why the company says it is cutting
Rangan’s letter, attached to the filing as Exhibit 99.1, says HubSpot has spent the past year shifting “from building software that helps customers grow to delivering outcomes for them with AI.” She listed three organizational changes: product teams will be organized around customer outcomes rather than the company’s individual “Hubs,” management layers will be reduced, and teams will get clearer ownership of their work.
The letter also says what the company is not doing. “This is not driven by AI-related efficiencies,” Rangan wrote, adding that “this is not simply a cost-cutting exercise.” She wrote that every role was assessed against the same six criteria, and that the reduction was the outcome of that review rather than its starting point.
Severance and support for affected workers
According to Boston.com, affected employees will receive 20 weeks of base pay plus one more week for each year of service, up to 30 weeks, along with health benefits and six months of career-transition services. They may also keep their company laptops and work-from-home equipment. U.S. employees were told they would get an email with details within 15 minutes of the announcement, while the process in other countries varies with local law, the letter said.
Massachusetts workers who lose their jobs can apply for unemployment insurance through the state Department of Unemployment Assistance. Our guide to Massachusetts unemployment benefits explains eligibility and weekly amounts.
A second leadership change
Three days after the layoffs were announced, HubSpot filed another 8-K saying Chief Legal Officer and Corporate Secretary Erika Fisher had told the company on Oct. 8 that she would resign effective Nov. 6, 2026, to pursue another opportunity. The filing says her decision did not result from any disagreement with the company, and that a search for a successor has begun.
Context: Boston-area tech and biotech cuts
HubSpot was founded in 2006 by MIT graduate students Brian Halligan and Dharmesh Shah and is one of the largest software employers headquartered in the Boston area, with more than 9,000 employees and 15 offices worldwide, according to Boston.com. Its cut is among the larger announced by a Massachusetts-based company this fall. The state’s WARN layoff and closure updates lists notices from employers such as EyePoint, which filed for 105 layoffs in Northbridge and Watertown on Oct. 20, and Blueprint Medicines, which filed for 229 in Cambridge in August. We covered EyePoint’s cuts and the Tango and Fractyl reductions separately.
Federal data show the broader picture is mixed. The Bureau of Labor Statistics estimates Massachusetts’ information sector employed 87,300 people in September 2026, down from 89,800 a year earlier, while the statewide unemployment rate fell to 4.3% from 4.6%. Our September jobs report breakdown has the details.
What comes next
HubSpot’s next earnings report will show the first restructuring charges, since most are expected in the fourth quarter. Investors will also watch whether the company keeps its 2026 guidance, which it reaffirmed in the filing. For more Boston company news, see our Boston Business & Economy hub and our roundup of October’s Boston business deals.
Photo: HubSpot office space in Cambridge, by JOSHBLY, via Wikimedia Commons, licensed CC BY-SA 4.0.
Sources
- HubSpot Form 8-K, Oct. 6, 2026 (SEC): board approval date, 7% figure, $65 million to $75 million in charges, timeline, reaffirmed guidance.
- Exhibit 99.1, CEO letter to employees (SEC): nearly 660 employees, three organizational changes, quotes.
- Boston.com, Oct. 6, 2026: severance terms, Massachusetts headcount not disclosed, company background.
- HubSpot Form 8-K, Oct. 9, 2026 (SEC): chief legal officer resignation.
Additional sources
- Massachusetts WARN layoff and closure updates (Mass.gov)
- BLS Economy at a Glance: Massachusetts
- Massachusetts Department of Unemployment Assistance (Mass.gov)
- HubSpot company update page
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