Away, the luggage brand backed by venture firms Accel and Forerunner Ventures, has furloughed roughly half of its 500-person workforce and laid off another 60 corporate employees. The cuts impacted nearly every department at New York-based Away, which has seen sales plummet 90% over the last few weeks, the company’s founders Steph Korey and Jen Rubio wrote in a blog post on Tuesday. Travel has...
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Luggage Startup Away Announces Big Job Cuts as Sales Plummet
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SoftBank’s Onetime Pizza-Robot Darling Shuts Down
Zume, which raised $375 million from SoftBank to automate pizza-making with robots before switching to developing sustainable packaging, has shut down. The company is insolvent and has retained restructuring firm Sherwood Partners to liquidate the assets for the benefit of the creditors, an alternative to bankruptcy, according to Martin Pichinson, Sherwood Partners’ cofounder. It ceased...
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