• Manufacturing resources are not affected by the recent increase in technical activities that have taken place recently.
  • The parent company Cameo, Substack, and Facetune have laid off employees in recent months.
  • Insider is just looking at what startups are starting to downsize.

June, 40


to attract attention

 insiders – from manufacturers to managers and sponsors – spoke to Insider about how the economic downturn is affecting the producers’ fortunes. Some also said that funding had been delayed, while others had been hampered.

But it’s not just the promoters who are being beaten: The companies that support them are also facing financial problems. As of May, eight start-ups in the ranks have been fired.

For more than a year, the developers’ assets were a very hot business filled with new players, big business, and big money. According to Crunchbase, start-up VC startups supported by founders rose to $ 939 million in 2021.

These days are about to come to an end, however, as the economic pressures of manufacturers are in the offing


economic decline

.

“What VCs are asking these companies to do, especially startups, is to be profitable and to ensure that they have the opportunity to make a profit soon,” Dan Wang, an assistant professor at Columbia Business School, told Insider. “Instead of making a promise of growth, they should focus more on starting a business, and doing so often means reducing costs.”

What is often the first to go – and one of the biggest challenges for the technology industry – is work, Wang said.

In May, Cameo, valued at $ 1 billion in 2021, laid off 87 employees.

“Most of us have rent and mortgage payments, kids, and everything like that,” a former Cameo employee, who spoke on condition of anonymity, told Insider in May.

Many companies follow, including Clubhouse, Jellysmack, and Substack. On Tuesday, Lightricks, an Israeli-based company behind the Facetune photo editing program, confirmed that it had laid off 80 employees in July.

As manufacturing economy responds to changing markets, Insider oversees companies that lay off workers.

Here are 8 startups that have fired employees, from July 2022:

Note: Companies are listed according to when the dismissal took place, and most recently.



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