Nearly two years after selling a majority stake to a hedge fund, Birchbox is laying off a quarter of its staff as the subscription cosmetics company once again tries to get on firmer financial footing. The 10-year-old company, which employed 230 people last year, informed employees last week about the cuts, which will affect about 57 people. Birchbox also plans to move some of its U.K....
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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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