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THE DAILY INDEX

Technology, AI, software, security, crypto and business

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BREX, MSFT, AND FINTECHS CUTTING HEADCOUNT, BUT UNEMPLOYMENT STAYS LOW

There’s been a lot of layoff headlines so far in 2023. Brex was the most recent, laying off 20% of its staff. This article argues the layoffs are the result of two converging trends – a drop in venture funding, particularly in fintech, and a rising cultural force at play that’s inspiring companies to run lean and use layoffs as a way to pivot away from projects or reshape the company.

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