Nearly 70,000 Tech Startup Employees Have Lost Jobs Since March

Technology startups have been laying off tens of thousands of workers to cope with the economic fallout of the coronavirus pandemic, potentially blunting a key innovation pipeline for the enterprise information-technology market, according to industry analysts. “Startups are a great source of innovation in the IT industry, but are now especially cash constrained,” said Max Azaham, a senior research director at research and consulting firm Gartner Inc.