As 2024 starts A prop-tech startup company, Frontdesk has laid off around 200 employees which is the entire workforce of the company, over a two-minute Google Meet call.
According to report, “Frontdesk was still optimistic about its ability to raise more capital.” The startup had posted on LinkedIn openings for several jobs, including a chief of staff role, just two months ago, The report added.
The layoffs included full-time, part-time workers and contractors and the proptech startup is now on the verge of shutting down,
Frontdesk was founded in 2017, the startup managed more than 1,000 furnished apartments across the US. It had raised about $26 million from investors such as JetBlue Ventures, Veritas Investments and Sand Hill Angels. The startup aimed to raise fresh capital but failed in its attempt.
Xerox to cut 15% of its workforce
An American corporation, Xerox has announced that it will cut 15% of its workforce, or about 3,000 jobs, as it looks to overhaul its executive leadership and global operations. The company has announced a new operating model and organizational structure to further the company’s Reinvention.
Xerox has about 20,500 employees, based on this figure about 3,075 employees will be impacted.
“The evolution of Xerox’s Reinvention aligns our resources in three key areas – improvement and stabilization of our core print business, increased productivity and efficiency through the formation of a new Global Business Services organization, and disciplined execution in revenue diversification,” said Steven Bandrowczak, Chief Executive Officer at Xerox.
“The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to accelerate product and services, go-to-market, and corporate functions’ operating efficiencies across all geographies we serve”, Steven Bandrowczak added.
So far in 2024, there have been 8 layoffs at tech companies with 3,482 people impacted (871 people per day). In 2023, there were 1,557 layoffs at tech companies / 243,318 people impacted (667 people per day).
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