Checkr, a 10-year-old startup that offers employee background checks and was last valued at $5 billion in April 2022, has laid off 382 employees as companies are not significantly hiring talent.
TechCrunch exclusively learned that Checkr conducted the layoffs across all departments and different levels on Tuesday.
“In response to economic conditions that have impacted companies’ hiring, we made the difficult and painful decision to reduce the size of our team.
This will allow us to operate more efficiently and ensure the long-term health of our business,” a Checkr spokesperson said in the statement.
The job cuts — which affected 32% of the company’s workforce — came nearly two years after Checkr announced the acquisition of Inflection, the startup behind GoodHire, a background-checking platform for small- and mid-sized businesses.
Microsoft has resolved a security lapse that exposed internal company files and credentials to the open internet.
The Azure storage server housed code, scripts and configuration files containing passwords, keys and credentials used by the Microsoft employees for accessing other internal databases and systems.
Yoleri told TechCrunch that the exposed data could potentially help malicious actors identify or access other places where Microsoft stores its internal files.
The researchers notified Microsoft of the security lapse on February 6, and Microsoft secured the spilling files on March 5.
Microsoft did not say if it had reset or changed any of the exposed internal credentials.
Working from home isn’t going away, even if some CEOs wish it would Most workers crave flexibility and work-life balanceWhen I started working from home in the late 1980s as a freelance technical writer, I was clearly an outlier.
Today, 14% of U.S. workers work at home full time (including me), and that number is expected to increase to 20% by next year, according to data published by USA Today.
Wayfair, the Boston-based online furniture company, concentrated on remote workers over in-office folks in a layoff earlier this year, according to a WSJ report.
Meanwhile Michael Bloomberg suggested remote workers weren’t actually working, but playing golf (which honestly sounds like projecting to me).
That’s a lot of executive energy being directed against working from home and toward working in the office.
Apple is laying off 614 employees in California after abandoning its electric car project.
According to the WARN notice posted by California, Apple notified the affected employees on March 28 and the changes will go into effect on May 27.
Affected employees worked at eight locations in Santa Clara, roughly 45 miles south of San Francisco.
The company first started working on its car project, known internally as “Project Titan,” in 2014, and told employees that it was cancelling it on February 27.
Bloomberg reported at the time that some remaining employees who were working on the car project would be shifted to Apple’s generative AI projects.
Leaked SpaceX documents show company forbids employees to sell stock if it deems they’ve misbehaved 'An act of dishonesty against the company' is among the violations citedSpaceX requires employees to agree to some unusual terms related to their stock awards, which have a chilling effect on staff, according to sources and internal documents viewed by TechCrunch.
Employees pay taxes on their sharesLike most tech companies, SpaceX includes stock options and restricted stock units (RSUs) as part of its compensation package to attract top talent.
Unlike stock in public companies, stock in private companies cannot be sold without the company’s permission.
Yet no employee at startups and private companies are entitled to sell their stock.
Like other private companies, its stock is split into preferred and common stock.
Bumble has lost a third of its Texas workforce in the months since the state passed the controversial abortion SB 8 (Senate Bill 8), also known as the Texas Heartbeat Act, over a year ago.
We’ve supported employees who’ve chosen to move out of state,” Monteleone added.
“We — since SB 8 — have seen a reduction in our Texas workforce by about a third.
The dating app maker became the first business to join an amicus brief in support of a lawsuit against the Texas abortion law, Zurawski v. State of Texas, filed by the Center for Reproductive Rights.
The dating app maker posted a weak Q4, with a $32 million net loss and $273.6 million in revenue.
Waymo will start letting its autonomous vehicles traverse Austin without a safety operator behind the wheel as of tomorrow, a crucial step before the company opens the program up to the public.
The company announced Tuesday that it will begin shuttling employees around 43 square miles of the Texas capital, including the Barton Hills, Riverside, East Austin and Hyde Park neighborhoods, as well as downtown Austin.
Waymo didn’t offer a timeline for when it plans to start offering autonomous rides to the citizens of Austin.
Waymo continues to steadily expand its autonomous ride-hailing program, which it calls Waymo One, even as other companies in the space have struggled.
Just last month, one of the company’s autonomous vehicles collided with a cyclist in San Francisco — an incident that the California Department of Motor Vehicles is investigating.
As remote work becomes increasingly prevalent, organizations globally are adapting, especially regarding onboarding procedures for new employees and navigating cross-border payment complexities.
RemotePass, one such business out of the UAE, has raised $5.5 million in Series A funding led by New York-based 212 VC.
CEO Kamal Reggad and Karim Nadi founded RemotePass in late 2020 to allow businesses to onboard, manage and pay their talent base in countries where they lack local legal presence.
Several companies are actively facilitating remote work and aiding employees in receiving payments from employers.
“Addressing today’s workforce challenges like talent mobility and remote work, RemotePass stands out as a key enabler.
In 2022, Walmart acquired earned wage access provider Even to offer early pay access to its employees.
Other big U.S. companies, including Amazon, McDonald’s and Uber, also offer employees early wage access programs.
Like other earned wage access providers, Wagely charges a nominal flat membership fee to employees withdrawing their salaries early.
“This is something that no other competitor is even close to because other earned wage access companies are focusing on different things,” he said.
One of the areas where global earned wage access providers have shifted their focus nowadays is lending — in some cases, to lend money to employers.
Camshaft disclosed in court filings this week that some $533 million it managed for Byju’s Alpha, a U.S. unit of Indian edtech group Byju’s, was transferred to another 100% and U.S.-based subsidiary of Byju’s, thereby refuting allegations that the Indian firm used the wealth manager’s services to misappropriate money.
In the court filings, Camshaft said the capital was transferred to Inspilearn LLC, a Delaware-based subsidiary of Byju’s.
Camshaft also clarified that Byju’s or any of its entities are not limited partners in the hedge fund.
Camshaft Capital attracted media attention last year after lenders of Byju’s questioned the legitimacy of the wealth advisor as they claimed the $533 million was a collateral for a $1.2 billion they had lent to the Indian startup.
A select few estranged investors in Byju’s later used the allegation to discredit Byju’s founder Byju Raveendran’s credibility.
