Ideo layoffs and the end of design thinking

Ideo is one of the most famous global design agencies in the world. Founded in 1991, it is celebrated for popularizing the modern corporate mantra of design thinking. It’s also known for a top-tier client list including companies such as Coca-Cola, Disney, and Apple, with estimated annual revenues of more than $100 million. But Ideo has been shedding employees since 2020. This is the second round of layoffs in 2023 alone. Ideo has since confirmed to Fast Company that it’s eliminating 32% of its headcount this year. Fast Company Senior Editor Liz Stinson breaks down the reason for the layoffs and what this means for "design thinking." For more, check out Mark Wilson's piece on Ideo "People thought we were crazy." Somos cofounder and CEO Miguel Leal wanted to bring authentic Mexican food to people's kitchens. "It was time to move the cuisine forward," he said. "Eighty-two percent of Mexican food comes from a restaurant. That is not the same for Italian food. That is not the same for Chinese food. That is very peculiar to Mexican food. And because of the size of the market, it's a $68 billion market. We just thought, what a great opportunity to become the spaghetti and sauce of Mexican food." And speaking of home cooking, Happy Thanksgiving!! For more MIC behind-the-scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!