When a startup falters, other companies rush in to grab talent

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

When a startup falters, other companies rush in to grab talent GlobeSmallBiz

Kundan Joshi, CEO of TheAppLabb, seen here on Jan. 16 2020, was among numerous company founders who got actively involved in the effort to find both Nudge.ai and Planswell employees their next place of employment.When Canadian robo-adviser Planswell shut down last fall, the startup community reacted swiftly on social media, offering both sympathy and opportunity to the dozens of people suddenly out of work.

Mr. Joshi acknowledges the efforts aren’t just to benefit employees, but the startups as well. “As much as the companies want to take care of each other … we are also looking for good talent.” Erin Bury, CEO of Final Blueprint Inc., a Toronto-based online estate-planning company operating as Willful, says it’s accepted in the startup world – by both founders and employees – that not every company will make it."It’s never a happy day when conducting layoffs … but it probably provides some hope for founders that the community is pitching in and their people will be okay,” says Ms. Bury, who recently hired a software developer laid off by Planswell.

Many former Planswell employees were also careful about what job they took next. Ms. Bury says those she interviewed had a lot of questions about how Willful is funded, the revenue model and its long-term growth strategy."If you've been burned by a startup, you really want to be careful getting into another startup," she says.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why the NHL’s relationship status with beer companies is now ‘It’s complicated’As beer sales in Canada dry up and profit margins fall, and media platforms to reach consumers multiply endlessly, brewers are re-evaluating the big-ticket contracts that sports leagues have been demanding
Source: globeandmail - 🏆 5. / 92 Read more »