[ad_1]
The tech industry has been growing for years, but the slowing economy has led to significant layoffs at tech companies and small businesses.
In the year More than 91,000 jobs have been lost in the US sector since December 16, according to data from Crunchbase News. This is done by online retail giant Amazon.com Inc. And it includes about 10,000 reductions to the start of the previous phase.
Case in point: Detroit-based financial technology company AutoBux earlier this month cut about 40 positions from the company, which previously counted about 140 employees. The layoffs were necessary “to realign costs and support models and balance future growth with profitability,” CEO Steve Roberts told Crain’s.
The CEO and fund manager of Ann Arbor-based Renaissance Venture Capital, which has an investment stake in AutoBook, said more cuts are possible. The past decade has made it generally easier for startups to raise capital, Rizic said.
That’s probably the end.
“The bar will be higher for companies,” Rizic said. There will be a big difference between winners and losers.
[ad_2]
Source link
