Getaround is latest Softbank portfolio company to announce layoffs

Silicon Valley’s top valued car rental startup, Getaround, announced layoffs today, making it the latest SoftBank-backed entity of late to pare down its workforce. The Information, which first reported the news, pegs the layoffs at 150 employees, amounting to around a quarter of the company. In the report, CEO Sam Zaid seemed to lay at…

Getaround is latest Softbank portfolio company to announce layoffs

Silicon Valley’s top valued car rental startup, Getaround, announced layoffs today, making it the latest SoftBank-backed entity of late to pare down its workforce.
The Information, which first reported the news, pegs the layoffs at 150 employees, amounting to around a quarter of the company. In the report, CEO Sam Zaid seemed to lay at least some of the blame for the layoffs on the effects of SoftBank’s recent struggles.
Zaid called SoftBank a “thoughtful partner,” but added that the world’s largest tech investment fund has “had their own challenges, and it’s hard to say that doesn’t have a ripple effect across their whole portfolio.”
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