Consider yourself lucky if you are a part of some startup that hasn’t announced lay-offs. It might sound quite justified for startups booting employees as they generate revenue but t here are others so concerned that they slice down employees even after raising funds.
Helium is one such firm that has recently raised $17 million and despite this raise has decided to axe one third of the work force. The reason being the economic meltdown, as CEO, Mark Ranalli points out:
‘We expect a deterioration of overall ad rates, and a slowing of the economy in general. Our approach was to take a third of every group across engineering, customer service, and sales.’
The idea is simply to make all that’s gained more profitable by cutting down expenses. Can one actually blame the management for this? Well best of luck for those who have been asked to pack up and to Helium.