Hopin’s COO, CFO and chief business officer are out

As part of its second workforce reduction in a matter of months, Hopin has parted ways with its COO, CFO and chief business officer.

It is not clear if executives were laid off. They didn't respond to requests for comment. "After many discussions, we all agreed this was the best way forward for the business," said a Hopin spokesman.

The growth-stage company, which was once thought to be ready for an IPO this year, is now in a precarious position due to the loss of top executives.

Hopin hides the full impact of yesterday's workforce reduction, according to sources. Hopin said yesterday that it laid off 29% of its employees and that some of them were contractors. It did not give a number. According to sources and internal documents, close to 350 people were impacted by Hopin's reorganization.

Four months ago, Hopin let 12% of its workforce go, citing a goal of sustainable growth. The company said that the cuts would help the events product to move forward more quickly.

Hopin isn't close to the end of its runway and will be streamlining to offer a more diversified suite of products, according to a spokesman. Hopin paid $250 million for Streamyard, but only disclosed the acquisition of five startup last year. Hopin laid off 12% of its workforce in February and then said that it needed to reorganize to align with its goals.

Johnny Boufarhat is still the CEO and founder of the company.

There will be more information next week on how the company will move forward according to a memo sent to staff.

A more significant restructuring is needed to build a profitable and sustainable company.

Current and former Hopin employees can get in touch withNatasha Mascarenhas by e-mail at natasha.m@techcrunch.com or by using a secure messaging app.