Page 26 - Brex News Today

One of the pandemic-era darlings of the fintech sector is stuck in a rut. Brex, which issues credit cards and manages cash for businesses, burned an average…

Plus: There’s no chill for sports streams.

Which startups are drawing the most praise from venture folks? A new list compiled by GGV US provides some hints.

Brex is cutting 20% of its workforce and shaking up senior management ranks in a new effort to slash its cash burn, as the fintech firm grapples with slower…

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, is transitioning from his role to become a board member.

Brex plans to layoff staff after a report revealed a cash burn of $17 million in the fourth quarter of 2023.

Expense management startup Brex, which was valued at $12.3 billion two years ago, has laid off 282 people, or about 20% of its staff today.

One of the pandemic-era darlings of the fintech sector is stuck in a rut. Brex, which issues credit cards and manages cash for businesses, burned an average…

Macy's and Sunglass Hut's parent face a lawsuit over their alleged use of facial recognition to wrongfully identify a robbery suspect.

Brex says it's slashing its workforce and "flattening" its leadership structure to contain millions in monthly cash burn.