This startup plans to save companies from ‘job cut pains’, but why it may not really help employees
As Big Tech, unicorns and startups lay off staff throughout the spectrum amid the financial downturn, right here comes a startup that’s providing layoff assist, making the firing course of easy, strategic and as ‘humanely’ as attainable.
US-based startup Continuum fees companies for layoff assist relying upon the variety of staff that the corporate has, TechCrunch reported.
For startups with 20 to 100 full-time staff, it will cost a one-time payment of $10,000 to put off any variety of staff.
‘If a startup is between 100 to 250 full-time staff, any workforce discount will price $20,000,’ the report talked about.
With the layoff assist, every startup will get one hour of session without spending a dime, after which pay accordingly the scale of the present headcount.
‘In case you actually take into consideration the place these have gone mistaken, all it’s important to do is have a look at Higher.com. The CEO talks about himself, does the mass firing on Zoom, no particular person communication a a complete catastrophe,’ stated stated Continuum CEO Nolan Church.
On-line mortgage agency Higher.com got here underneath hearth after its CEO, Vishal Garg, fired round 900 staff by way of a single Zoom name in December.
‘In case you run a layoff poorly, you continue to have a workforce that it’s important to re-motivate and orient on the place the longer term goes for the corporate,’ Church was quoted as saying.
Continuum additionally permits firms to rent seasoned executives part-time to offer skilled recommendation on how one can deal with employee layoffs.
The startup handles all funds, together with contracts, invoices, payouts and taxes for the manager employed by the client.
The corporate claimed that inside 48 hours, a buyer might be matched with an government who has beforehand solved that precise downside.
Continuum in July raised $12 million in its Sequence A funding led by Pelion Ventures with participation from Uncork Capital, Day One Ventures and buyers together with the CEOs of DoorDash, Divvy and Thumbtack.
Not less than half of the businesses worldwide are planning to put off folks, most are decreasing bonuses and rescinding job affords amid the financial downturn, a brand new report has warned.
Based on the most recent PwC report, 50 per cent of respondents within the US are decreasing their general headcount, whilst enterprise leaders stay involved about hiring and retaining expertise.
Greater than 32,000 tech staff have been laid off within the US until July, together with at Large Tech firms like Microsoft and Meta (previously Fb), and the worst has not been over but for the tech sector that has seen huge inventory sell-off.
In India, greater than 25,000 startup staff have misplaced jobs for the reason that pandemic started — and greater than 12,000 have been fired this yr.
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