StartEngine Lays Off 25% of Workforce in Single Zoom Call Amid Industry Challenges

StartEngine, a prominent equity crowdfunding platform, has reportedly laid off 25% of its workforce during a single Zoom call. This significant reduction in staff comes amid a challenging period for the company, which has experienced substantial growth in recent years. In 2023, StartEngine reported a 463% revenue increase over the past three years and was featured on Inc. magazine's list of fastest-growing businesses. Benzinga

The layoffs reflect broader trends in the tech industry, where companies like Unity Software have also announced significant workforce reductions. In January 2024, Unity revealed plans to cut approximately 1,800 jobs, equating to about 25% of its workforce, as part of a "company reset."Fast Company

StartEngine's decision to downsize highlights the challenges companies face in the equity crowdfunding sector despite previous rapid growth and expansion periods.

For more detailed information, please refer to the original article: Exclusive: StartEngine Mass Fires 25% of Its Workforce in a Single Zoom Call.