Indian hotel startup Oyo swelled to more than 20,000 workers in seven years since its founding, racking up billions in funding. It’s now cutting deep into its work force to downsize, laying off thousands, Bloomberg reports. Aside from WeWork, this is likely the largest number of layoffs by a firm backed by SoftBank’s Vision Fund, which owns 48% of Oyo. There are strong echoes of WeWork. Both...
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Sumo Logic Cuts Staff After Francisco Partners Takeover
Data analytics software company Sumo Logic made widespread layoffs this week, according to people familiar with the matter and an email to staff viewed by The Information, less than a month after private equity firm Francisco Partners bought the company for $1.7 billion. The exact size of the cuts couldn’t be learned. Chief Executive Joe Kim, who was named CEO three days after the...
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