Cuts
- Technology
Sources: Tokyo-headquartered aggregator SmartNews, valued at $2B as of 2021, lays off ~120 people, or 40% of US and China staff, with more cuts to come in Japan (TechCrunch)
TechCrunch: Sources: Tokyo-headquartered aggregator SmartNews, valued at $2B as of 2021, lays off ~120 people, or 40% of US and…
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Equity management service Carta cuts 10% of its staff, possibly impacting ~200 workers, as it sues a former CTO; the company was valued at $7.4B in August 2021 (Natasha Mascarenhas/TechCrunch)
Natasha Mascarenhas / TechCrunch: Equity management service Carta cuts 10% of its staff, possibly impacting ~200 workers, as it sues…
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The deep problem with SPACs is the sponsors' and warrant holders' cuts, paid by the target company or the SPAC shareholders, leading to a bad deal for both (Matt Levine/Bloomberg)
Matt Levine / Bloomberg: The deep problem with SPACs is the sponsors’ and warrant holders’ cuts, paid by the target…
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Sources: Twitter cuts more staff in its diminished trust and safety team handling global content moderation and in a unit mitigating hate speech and harassment (Bloomberg)
Bloomberg: Sources: Twitter cuts more staff in its diminished trust and safety team handling global content moderation and in a…
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Sources: Amazon plans to lay off over 17,000 employees, more than the 10,000 workers it expected in November 2022, with new cuts starting over the coming weeks (Wall Street Journal)
Wall Street Journal: Sources: Amazon plans to lay off over 17,000 employees, more than the 10,000 workers it expected in…
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Sources: Instacart cuts its internal valuation to ~$10B, down ~75% from $39B in March 2021; the company slashed its valuation every quarter in 2022 (Erin Woo/The Information)
Erin Woo / The Information: Sources: Instacart cuts its internal valuation to ~$10B, down ~75% from $39B in March 2021;…
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Singapore-based Amber Group, one of Asia's largest crypto exchanges, cuts 40% of its staff, scraps retail operations, and terminates its Chelsea FC sponsorship (Hannah Miller/Bloomberg)
Hannah Miller / Bloomberg: Singapore-based Amber Group, one of Asia’s largest crypto exchanges, cuts 40% of its staff, scraps retail…
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