ouch. another unicorn took a hit today. ceo sent out a decent message and everyone gets 3 month severance. also offered the same package to those who volunteer https://techcrunch.com/2020/04/15/unicorn-layoffs-keep-piling-up-as-the-economy-gets-worse/ #severance #layoff
Alll these startups should be killed honestly , sadly now this was a VC bubble - without a proper revenue model money was pumped in
I think Carta is definitely an outlier. They have a great product and straightforward path to profitability. They will downsize their headcount and be just fine in the long run.
Why so? Aren't they primarily selling subscription accounts to startups (which are shutting down / down sizing)?
https://medium.com/@henrysward/cartas-covid-19-layoff-cbb80e3e8a5d
Opendoor too :(
Long overdue—they have been running a high working-capital model for too long and had cashflow issues as early as last spring 🤷🏼♂️
Damn, we got 4 weeks. Fml
Feel bad the employees. Some of them were not very friendly though!
They got three months severance, cliff removed, I'd take that offer voluntarily lol
Yeah plus the 8 months of healthcare
Apparently the ceo announced to the entire company on Friday there would be layoffs this week. What a great way to keep your whole company productive and not on edge at all in the meantime.
What a shame. We need ingenuity at this time more than anything, not more people on government support
I just got an email from a recruiter for a role
Engineering?
Yes
Ouch almost joined
Good thing you picked right and joined...WeWork!
I lol’ed and then cried.