blog

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

Written by Lauren | Jul 8, 2020 6:33:36 PM

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.