Joining the layoff spree, GoDaddy has announced it is slashing 8% of its existing workforce, with the drive expected to impact more than 500 employees.

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The layoffs were announced by GoDaddy CEO Aman Bhutani in an internal email to staff on Feb 8, with Bhutani attributing the decision to ‘increasingly challenging macroeconomic conditions.’

“Within the next hour, impacted team members will receive a meeting invite from their leadership to learn the details of their transition, aligned with the local alignment processes,” the email read.

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The move, which affects employees mostly in the United States, spans across multiple levels and every division of the Tempe-headquartered internet domain registrar and web hosting company.

Bhutani, meanwhile, also said the layoffs will help in integration of three GoDaddy brands – Main Street Hub, Main Temple, 123 Reg – into the firm.

The employees being laid off are being offered a transition package in line with the local norms. In the US, the staffers being handed pink slips will receive 12 weeks of paid administrative leave with continued core benefits coverage, eligibility for two extra weeks of severance with per year (minimum four weeks) worked, extended healthcare benefits, and support for both outplacement and immigration.