Andreessen-backed TripActions laid off 350 amid corporate travel halt - Business Insider

, a fateful decision announced just days before corporations around the globe curtailed business travel amid the developing coronavirus pandemic.

TripActions was especially vulnerable to the rapidly changing economic landscape many startups are just now coming to terms with because of its heavy reliance on business travel and startup customer base. The startup skyrocketed to unicorn status in near-record time, and aggressively expanded into new categories like banking that required larger investments for even larger returns.

Layoffs have come to Silicon Valley in droves for the smallest startups all the way to household names. . Even public companies are not immune, with tech giants like Google implementing promotion freezes and newer entrants like Uber halting new hires. As expected, the surge in newly unemployed Silicon Valley workers has led to new forums, message boards, and apps crowdsourcing new employment opportunities.

United States United States Latest News, United States United States Headlines

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

SoftBank-backed brokerage Compass lays off 15% of staff - Business InsiderSoftBank-backed real estate brokerage Compass laid off approximately 375 employees, a source familiar with the matter confirmed to Business Insider. Wow
Source: BusinessInsider - 🏆 729. / 51 Read more »

The coronavirus pandemic may be weakening US retail - Business Insider - Business InsiderWith states and cities closing nonessential stores in response to the coronavirus, retailers may lose the ability to make in-store sales altogether. Ya think lortyvon L’augmentation des taxes est là
Source: BusinessInsider - 🏆 729. / 51 Read more »