Brex axed 136 people or 11%

Question

More employees from companies with a super high base salary axed their employees. Brex laid off 11% of its employees or 136 people. People, stay away from Brex, Netflix, and Roku!! Think hard before accepting a job offer. Please pick companies with a stable business model. Defense contractors may not be a bad option. Picking a job that pays 110k to 120k with really good stability versus a job that pays 375k, but with a high chance of getting axed could be more feasible starting 2023 through 2024.

https://techcrunch.com/2022/10/11/fintech-brex-layoffs-restructuring/amp/

ferryboat · Accepted Answer

It's a good point about stability. These companies are growth at all cost until they realize wait a sec the unit economics just don't make sense.

Here's the note from Pedro one of the founders: https://www.brex.com/journal/message-from-pedro

g249unna · Answer

Valuations at this point are more art and hysteria than science. Bloated and they wonder why bubbles burst so often these days...

lonerangeera · Answer

It's for the sake of the investors and they are building bunkers with all the cash they are running off with. Pretty sure I saw someone post an article about the billionaire bunkers lol

Brex axed 136 people or 11%

Brex, valued at $12.3B earlier this year, lays off 11% of staff as part of restructuring

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