Brex cuts 20% of staff amid reports of stalled growth, high burn

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Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that its COO, Michael Tannenbaum, […]

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Brex cuts 20% of staff amid reports of stalled growth, high burn

Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that its COO, Michael Tannenbaum, […]

© 2023 TechCrunch. All rights reserved. For personal use only.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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