Legal Blog
Read & Share: Layoffs at Prominent Startups Triggered by COVID-19
As the pandemic continues to shake-up almost every industry, tech startups are the most affected.
Since mid-March, a myriad of startups and unicorns have had to lay off workers.
Each of the companies listed above has laid off over 250 employees between March 11, 2020, and May 26, 2020 – capturing a snapshot of the continuing repercussion of the pandemic. Unsurprisingly, many of the hardest-hit startups are related to the travel and mobility industry.
Uber has laid off 6,700 employees and closed 45 offices since mid-March. Uber CEO, Dara Khosrowshahi, announced he will also waive his $1M base salary for the remainder of the year.
Source: Visual Capitalist
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Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.
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