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Layoffs have struck the startup world swiftly, hurting hospitality and travel startups, as well as recruitment cover disney iphone 5s and scooter companies. New data shows that some of those layoffs, cover iphone 7 plus unicorno brought on cover samsung j6 plus amazon by COVID 19, might be disproportionately impacting satellite campuses.
By nature, satellite offices are secondary to a startup’s headquarters. Opening smaller offices is a cover samsung galaxy s3 prima classe strategic move when a company gets a fresh round of cover con batteria iphone 7 plus funding or wants to expand to a new market. We’ve seen satellite offices pop up in cities like Portland, Phoenix or Austin, which has satellite offices for Apple, Facebook and Oracle, for example.
EasyPost in San Francisco laid off 75 employees, nearly baymax cover samsung all in Salt Lake City and Louisville.
Toast, based in Boston, laid off 1,300 employees, or 50% of its entire staff.
KeepTruckin, based in San Francisco and last valued at $1.25 billion, laid off around 350 employees, and 33% of those employees were located in Nashville or Chicago. But even if the data is just serving as an anecdotal snapshot, it’s an important one to shop cover online note.
What the data meansOnce the economy does recover to a new normal, it’s unclear whether HQ cities or satellite cover vans iphone 5 cities will be in a better position to bounce back. We caught up with some investors in Boston, a top startup hub that has recently faced its own flurry of layoffs, to hear their thoughts.
According to Lily Lyman, a cover iphone 6 ultra sottile partner at Boston based venture capital firm Underscore, satellite offices are often where a cover burlon iphone 6s company might locate the sales, customer success and business development staff. Logistically, those roles are the most cover iphone 6 argento vulnerable as consumer activity slows. For a lot of businesses, there are no sales and deals to be done right now.
“[These roles are getting] disproportionately affected in [reduction of forces] cover particolari iphone 6s as companies expect a slowdown on the commercial side,” Lyman said. “While a logical decision to extend the cash runway, it does come cover a libro iphone 6 plus with the risk that this withdrawal can damage relationships with customers that may be hard to recover.”
Not everyone sees cuts hitting satellite offices the hardest. Michael Skok, another partner cover iphone 5 rosa at video di cover DEATH THE KID SHOT Cover iPhone 5 / 5S / SE per iphone Underscore, said that “in some cases, we’ve seen that satellite offices are established in emerging markets which come with cost savings, so these offices may actually be more protected in these cover iphone 5s con frasi times.” In other words, if you’re cutting costs, San Francisco employee expenses might be higher than Denver employee expenses by sheer nature of the former having exorbitantly high living costs. Revolution Ventures, which invests in startups in emerging tech scenes, said it has not heard about satellite office layoffs from its portfolio as of recently.
And finally, to put it crassly, layoffs in a non HQ city might quell some of the negative signaling that founders and venture capitalists are trying so hard to avoid (well, most of them at least). Slimming down operations cover iphone 6 silicone amazon is becoming a proactive response, not a reactive strategy as the pandemic continues to evolve.
Today’s data reminds us that layoffs are rarely an isolated occurrence, and staff cuts appear to be landing harder on less robust tech ecosystems…