Culture has drastically and negatively changed since new CEO joined - Customer Success Cobalt Employee Review

Your feedback is important and I want you to know that I and the management team take your comments seriously and with an open mind. We continue to strive to be customer centric and respect both customers and employees. The layoffs have, understandably, been very hard for the team. It was a decision that we did not make lightly, and I understand that this has been very difficult. During the All Hands where we addressed Cobalters’ questions about the future and layoffs, I had said that we didn’t have plans for layoffs - this at the time reflected our plans and thinking. I was also asked to ‘guarantee’ that there would be no layoffs for the next year - to which I responded that I could not provide that assurance as it would have been very negligent on my part to do so. No one knows the future. As market conditions continued to deteriorate, we had to confront the reality that Cobalt is not immune to current market conditions, and take some hard decisions for the long-term health of the company. We strive to be as transparent as possible, but unfortunately, this industry often moves fast, and so we also need to adapt quickly. Change is hard. Cobalt is a growth stage company, and so the last 18 months have been a period of high transformation, starting with my own appointment as CEO. In my conversations with Jacob Hansen at that time, we discussed the future of Cobalt and the changes that needed to be made. We both knew it would not be easy and we knew the focus and priorities needed to evolve. I want you to know that the decisions I make as a CEO, and that we make as a management team, are with Cobalt’s best interests in mind. Diversity and inclusion continues to be an important priority for us. We want everyone to feel welcome and be comfortable to express their full selves at work. I’m very concerned to read your comments and urge you to discuss with the People team or directly with me. I also encourage you and all current employees to continue sharing your feedback via our anonymous feedback surveys and/or internal AMAs.