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🎉US startup - Frontdesk : Fired over a 2-minute call 📲



Layoffs affected full-time, part-time workers, and contractors, leading the proptech startup, Frontdesk, toward imminent closure.

📲

CEO Jesse DePinto indicated plans for state receivership as an alternative to bankruptcy, without the startup commenting on the report.

⚒️

Established in 2017, Frontdesk managed over 1,000 furnished US apartments and secured $26 million from investors like JetBlue Ventures and Veritas Investments.

👷‍♀️

Despite aiming to raise fresh capital, the startup failed in its attempt, while still posting job openings, displaying optimism.

🏠

Global tech companies terminated over 425,000 employees in the last two years, with 36,000 job cuts in India during the same period.

🥳

Approximately 2.6 lakh employees faced layoffs in the global tech and startup sector in 2023, attributed to adverse macroeconomic conditions.

😯

Layoffs persist within Big Tech firms and startups globally, a consequence of prevailing global economic circumstances.

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