Tag: layoffs
Luxury consignment retailer The RealReal lays off 10% of workforce, furloughs 15%
Online consignment company The RealReal is the latest tech company to lay off and furlough employees amid the COVID-19 pandemic. In the company’s quarterly earnings report today, The RealReal announced layoffs affecting 10% of its workforce and furloughs impacting 15% of employees. By doing so, The RealReal says it will…
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Layoffs are disproportionately impacting startup satellite offices
Layoffs have struck the startup world swiftly, hurting hospitality and travel startups, as well as recruitment and scooter companies. New data shows that some of those layoffs, brought on by COVID-19, might be disproportionately impacting satellite campuses. By nature, satellite offices are secondary to a startup’s headquarters. Opening smaller offices…
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Monzo to shutter Las Vegas customer support office, 165 employees being let go
Following voluntary employee furloughs and salary cuts in the U.K., Monzo is continuing to take tough decisions in order to shore up its financial position amidst the coronavirus crisis and resulting economic downturn. The latest move — which TechCrunch understands was being considered prior to the pandemic, though undoubtedly the…
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AngelList lays off a number of staff and cuts executive salaries
AngelList, a platform that connects angel investors to startups and has roughly $1.8 billion assets under management, has laid off a sizable number of staff and cut executive salaries across all departments, according to a source familiar with the company. AngelList declined to share the number of people who were…
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BounceX cuts staff, reduces salaries in wake of COVID-19 economic disruptions
TechCrunch confirmed today that BounceX (the firm is rebranding this year) has executed layoffs and salary cuts in the wake of recent COVID-19-led economic disruptions. Many startups are undergoing staff cuts as the domestic and global economies slow, making individual reductions less newsworthy as the layoff tally rises. However, as…
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As tech layoffs surge, some support emerges for those without a job
The massive surge of COVID-19-related layoffs has put tech in a unique position. While the startup world is facing layoffs itself, it is also trying to help get people back to work. Back at the end of 2019, the SoftBank-backed belt-tightening period led to a flurry of crowdsourced spreadsheets with…
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