BounceX cuts staff, reduces salaries in wake of COVID-19 economic disruptions

TechCrunch confirmed today that BounceX (the firm is rebranding this year) has executed layoffs and salary cuts in the wake of recent COVID-19-led economic disruptions. Many startups are undergoing staff cuts as the domestic and global economies slow, making individual reductions less newsworthy as the layoff tally rises. However, as BounceX is a company we’ve…

BounceX cuts staff, reduces salaries in wake of COVID-19 economic disruptions

TechCrunch confirmed today that BounceX (the firm is rebranding this year) has executed layoffs and salary cuts in the wake of recent COVID-19-led economic disruptions.
Many startups are undergoing staff cuts as the domestic and global economies slow, making individual reductions less newsworthy as the layoff tally rises. However, as BounceX is a company we’ve recently highlighted for its growth and capital efficiency, its own cuts are worth noting.
Reductions
TechCrunch was tipped concerning the BounceX staff cuts and salary reductions earlier today, events that the company confirmed this afternoon. Our original tipster pegged the cuts at around 20% of staff, with pay cuts for the rest of its denizens.
The company confirmed the existence of salary cuts and layoffs, but did not affirm our figures. Here’s BounceX on its hard day; the firm confirmed pay cuts via a spokesperson separately from this comment:
COVID-19 has hit our client base really hard, especially if they had significant retail pr
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