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In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! For spend management startup Brex, this was the case for its employee headcount. As things have come down to earth, Brex is attempting a reset, announcing this week it cut 282 employees, or nearly 20% of its staff, in a restructuring.
SAP this week said it will let go of 8,000 employees and Microsoft removed 1,900 positions in its gaming division. Fintech startup Brex laid off 20% of its staff and eBay slashed 1,000 jobs, or 9% of its full-time workforce.
In this edition of TechCrunch's Week in Review (WiR) newsletter, we cover Disney's experimental VR treadmill, OpenAI fixing GPT-4 and more.
On the agenda for this edition is Disney's innovative VR treadmill, OpenAI fixing its "lazy" AI and MIT's high-capacity, fast-charging organic battery tech. Disney's VR treadmill: Disney has developed a treadmill-like system for VR composed of hundreds of small, round "tiles" that look to be about the size of a silver dollar, Brian writes.
January has thus far seen 23,670 known tech layoffs, sourced from 85 known reductions, and hitting tech shops big and small.