TechCrunch
SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce
SeekOut, an eight-year-old recruiting startup that uses AI to find candidates, cut about 30% of its workforce this past Thursday, TechCrunch has learned. “Lately, we have been spending roughly $2 to earn $1, and this last fiscal year, we incurred significant cash burn,” SeekOut’s CEO Anoop Gupta and CTO Aravind Bala wrote in a letter to employees. SeekOut laid off 16 employees in October, or about 7% of its workforce at that time, GeekWire reported.
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