US-based tech startup Rapid (earlier known as RapidAPI) is the latest company to announce job cuts. According to an online report the company has laid off 70 employees in the second round of layoffs.
According to a report by TechCrunch, Rapid has fired 70 employees in less than two weeks after laying off 50% of its staff. The report adds that the company has fired 82% of its staff and it now has only 42 employees. The latest round of layoffs has impacted employees in Europe and the US.
In 2015, Iddo Gino, who was just 17 years old at the time, established RapidAPI. The company developed a platform that assists businesses in discovering and incorporating third-party APIs, as well as monitoring their use of internal APIs. The company also raised $150 million in March last year in a series D round led by SoftBank’s Vision Fund 2.
Shopify laid off 20% of its workforce
Shopify, an e-commerce giant, has recently laid off 20% of its workforce due to the divestment of its logistics unit to Flexport, a supply chain technology company. As part of the agreement, Shopify will receive stock worth about 13% equity stake in Flexport, increasing its ownership to high teens. According to CNBC, as of December 31, 2022, Shopify had more than 11,600 employees, but it had previously let go of 1,000 employees in recruitment, support, and sales roles last year.
According to a report by TechCrunch, Rapid has fired 70 employees in less than two weeks after laying off 50% of its staff. The report adds that the company has fired 82% of its staff and it now has only 42 employees. The latest round of layoffs has impacted employees in Europe and the US.
In 2015, Iddo Gino, who was just 17 years old at the time, established RapidAPI. The company developed a platform that assists businesses in discovering and incorporating third-party APIs, as well as monitoring their use of internal APIs. The company also raised $150 million in March last year in a series D round led by SoftBank’s Vision Fund 2.
Shopify laid off 20% of its workforce
Shopify, an e-commerce giant, has recently laid off 20% of its workforce due to the divestment of its logistics unit to Flexport, a supply chain technology company. As part of the agreement, Shopify will receive stock worth about 13% equity stake in Flexport, increasing its ownership to high teens. According to CNBC, as of December 31, 2022, Shopify had more than 11,600 employees, but it had previously let go of 1,000 employees in recruitment, support, and sales roles last year.
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