Big Technology Companies to Fall out due to Covid-19

Corona virus epidemic or Covid-19 makes many startups enter a critical period, including large-scale giant startup companies. Instead of burning money as is usually done by startups, just maintaining the business is hard. Layoffs are the path taken by various world startups to survive the Covid-19 pandemic. The worst starup business is happening all over the world. In the United States (US), startups categorized as unicorn and decacorn are also forced to do mass layoffs on their employees.

During March 11 – May 26, 2020 in the US, Visual Capitalist released, almost all sectors affected by Covid-19, thus forcing technology startups to cut the number of employees on a large scale. Also read: Jeff Bezos Invests Rp 217 Billion in Goods Delivery Startups During that period, layoffs have occurred in the 30 most dominating startups in the US. Each company has reduced its employees to more than 250 people. The hardest hit from the corona pandemic is travel and tourism.

In the transportation sector, Uber has already laid off 6,700 people or a quarter of its total employees. Then Bird who did layoffs as many as 406 people or about 30 percent of total employees, and Lyft lay off 982 people or 17 percent of total employees. In the travel and tourism sector, Airbnb recorded layoffs of 1,900 employees (25 percent), TripAdvisor 900 employees (25 percent), Sonder 400 people (33 percent), and TripActions 300 people (25 percent). Also read: New Normal, MSMEs and Startups Will Benefit? Then in the consumer sector, there is Magic Leap who fired 1,000 people (50 percent), Yelp 1,000 people (17 percent), and Jull 900 people (30 percent). Other sectors such as the food, health, logistics, property and financial industries were also hit hard after the pandemic. The percentage of layoff figures is very large. Next page

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Big Technology Companies to Fall out due to Covid-19 - /10

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Corona virus epidemic or Covid-19 makes many startups enter a critical period, including large-scale giant startup companies. Instead of burning money as is usually done by startups, just maintaining the business is hard.

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