Hello again! Time for another edition of Week in Review, the newsletter where we recap the week’s most read ZebethMedia stories in one quick and easy-to-skim blast. Get it in your inbox every Saturday AM by signing up here. (There won’t be a newsletter next Saturday because I’ll be off being thankful/eating leftovers/being thankful for […]
When the downturn began, many VCs urged founders to slash their marketing spending. On its face, that’s an effective way to extend runway while cutting costs. Several months later, we’ve since learned that cutting marketing budgets doesn’t make early-stage startups healthier, but it is a great way for VCs to reduce burn rates across their […]
Roku wrote in a new SEC filing that it plans to cut 200 jobs in the U.S. as it braces for economic headwinds. Thanks to the workforce reduction, the company expects to incur a non-recurring charge of between $28 to $31 million, mainly because of severance payments, employee benefits contributions, other related expenses, and notice […]
Update: Spokesperson Kelly Nantel tells ZebethMedia, “As part of our annual operating planning review process, we always look at each of our businesses and what we believe we should change. As we’ve gone through this, given the current macro-economic environment (as well as several years of rapid hiring), some teams are making adjustments, which in […]
This week, Amazon began the process of cutting jobs across the company. Managers have begun informing employees that they have two months to find another role inside the company or accept severance, according to reports. Numerous employees have acknowledged that they were impacted by the moves via services like LinkedIn. Other reports, meanwhile, cite frustrations […]
Tech layoffs may get worse before they get better — which means that the next few months will be full of companies trying to pivot their way to survival during this extended downturn. At least that’s what entrepreneur Nolan Church, who helped lead Carta’s 2020 layoffs as its chief people officer, thinks. He estimates that […]
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous […]
According to layoffs.fyi, more than 23,000 tech workers have been laid off so far this month. For comparison, the site tracked 12,463 layoffs in October. Facebook’s parent company Meta announced the first major job cuts in its history this week, eliminating 11,000 jobs. Like Twitter, Stripe, Brex, Lyft, Netflix and other tech firms based in […]
SoundHound — maker of the voice AI technology used by Mercedes-Benz, Deutsche Telecom, Snap and Mastercard and more — has laid off about 10% of its workforce amid ongoing economic turmoil across global markets. The Santa Clara-headquartered company — which went public via a SPAC in April of this year — announced the decision to […]
Kabam, the gaming company that has developed mobile games in partnership with entertainment brands including Disney, Marvel and Universal, has laid off about 7% — around 35 people — of its workforce, ZebethMedia has learned from sources and confirmed with the company over email. The Vancouver-based company informed the affected employees about the move earlier […]
