Many big companies in the fintech world cut jobs in the past month. And yet Stripe’s announcement it would lay off 14% of its workforce still made a splash, proving that unicorns and decacorns are not immune to the challenging economic and fundraising conditions. The Stripe news closely follows Chime confirming this week that 12% […]
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Oh what a week. What a week. Things are busier than ever at ZebethMedia, where we’re coming out of our post-conference stupor and charing straight back into a packed news cycle. Sure, Musk is […]
Twitter is being sued for not giving employees advanced written notice of a mass layoff, in violation of worker protection laws including the federal Worker Adjustment and Retraining Notification Act as well as the California WARN Act, both of which require 60 days of advance notice. Following Elon Musk’s takeover of Twitter, the company began […]
Danish startup Pleo has announced that it plans to lay off around 15% of the company’s workforce. As the company currently has nearly 1,000 employees, it could affect up to 150 people. Pleo develops expense management tools for SMBs around Europe. “I’ll be honest. Pleo today, at the point of almost 1,000 employees and with […]
According to an internal memo sent to Twitter employees, the new management under Elon Musk will begin conducting layoffs Friday morning. These layoffs have been rumored since before Musk’s takeover, with the most recent report estimating that half of the 7,500 employees will lose their jobs. On Thursday evening, all employees received an email stating […]
There are no sure bets in this — or any — business. Automation, agriculture and a climate-bent are green flags, but no category is immune from mounting economic headwinds on top of the already difficult task of launching a successful startup. While robotics has thus far seen a limited slowdown in investing relative to many […]
Chargebee, backed by marquee investors including Tiger Global and Sequoia Capital India, has laid off about 10% of its staff in a “reorganization” effort due to ongoing global macroeconomic challenges and growing operational debt. The Chennai and San Francisco-headquartered startup, which offers billing, subscription, revenue and compliance management solutions, confirmed to ZebethMedia that the update […]
Digital bank Chime confirmed today that it is laying off 12% of its workforce, or about 160 people. The Information first reported the news. According to an internal memo obtained by ZebethMedia, Chime co-founder Chris Britt described that the move was one of many that would help the company thrive “regardless of market conditions.” In […]
Opendoor is letting go of about 550 people, or 18% of the company, across all functions, its co-founder and CEO Eric Wu announced in a blog post today. The real estate technology company is one of many real estate tech companies that have had to lay off workers in 2022. Online mortgage lender Better.com has […]
Lending giant Upstart has laid off about 140 employees — or 7% of its total workforce — who help process loan applications, sources told ZebethMedia. The cloud-based AI lending platform notified its affected employees about the layoff on Tuesday. Upstart had about 2,000 employees, according to the company, which confirmed the layoffs. “Given the challenging […]
