Kickstarter is laying off 18% of its workforce as crowdfunding projects plummet during the pandemic

Kickstarter has laid off 25 employees, around 18% of its workforce, according to a regulatory notice filed last week.CEO Aziz Hasan told employees in April that layoffs were likely as the crowdfunding website saw projects drop 35% from a year prior with “no clear sign of rebound,” according to The Verge.Employees, who unionized in February, will receive…

Kickstarter is laying off 18% of its workforce as crowdfunding projects plummet during the pandemic

Kickstarter has laid off 25 employees, around 18% of its workforce, according to a regulatory notice filed last week.CEO Aziz Hasan told employees in April that layoffs were likely as the crowdfunding website saw projects drop 35% from a year prior with “no clear sign of rebound,” according to The Verge.Employees, who unionized in February, will receive several months’ pay and healthcare coverage as well as a chance to reclaim their job if Kickstarter brings it back within a year as part of an earlier severance deal reached with the union.The company becomes the lastest venture-backed startup in recent weeks to announce sweeping layoffs.Visit Business Insider’s homepage for more stories.

Kickstarter is laying off 25 employees, nearly 18% of its 140-person workforce, due to the economic fal
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