Apple Watch Competitor Pebble Lays off 25% of Staff
Pebble, the buzzy startup credited for being one of the first companies to launch a modern smartwatch, is laying off 40 employees this week, CEO Eric Migicovsky told Tech Insider in an interview. That's about 25% of its total staff. The Pebble layoffs come at a shaky time for the wearable technology market. FitBit, the leader in the wearable category, has seen its stock fall dramatically in recent months. Apple dropped the price of the Apple Watch by $50 to $299 on Monday, a sign that it's not selling as well as hoped. BUSINESS INSIDER
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