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TEXXR

Chronicles

The story behind the story

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Brex, valued at $12.3B in January 2022, lays off 136, or 11% of its staff, as part of a restructuring, and its CFO departs to join HR software startup Rippling

TechCrunch Mary Ann Azevedo

Discussion

  • Brex Pedro Franceschi on x
    A message from Pedro … Team,  —  As I just shared in our team meeting, today is a difficult day for Brex.
  • @pedroh96 Pedro Franceschi on x
    It's a hard day at @brexHQ today. We made the incredibly difficult decision to reduce our team by 11%. Today is about treating those leaving with the compassion and respect they deserve. More here: https://www.brex.com/...
  • @dakacki @dakacki on x
    I could do without the “laser focused” & “macro environment” corp speak. Speak like a person who's communicating to people that just got their worlds flipped upside down. That aside, it's the most empathetic notification I've seen from any company, ever. Low as that bar is. https…
  • @briannekimmel Bri Kimmel on x
    My advice if you don't have a safety net: Always Work on Core Product Brex's core business is high growth, VC backed startups, not traditional SMBs If your line of business isn't making money & consistently underperforms against core product, this is an obvious & necessary cut ht…
  • @alex @alex on x
    even the decacorns aren't immune to changing markets https://techcrunch.com/... btw brex is going to be at disrupt and it's going to be a heck of a chat
  • @gergelyorosz Gergely Orosz on x
    Statement on the layoffs on the Brex website. As far as layoffs are executed, hard to find fault in that part: the CEO is transparent about what happened and why, a decent severance, keeping computers, job search help. https://www.brex.com/...
  • @carnage4life Dare Obasanjo on x
    The CFO leaving is already a canary in the coal mine but leaving for another startup that just launched a competing product? That's a full on death knell. https://techcrunch.com/...
  • @cailen @cailen on x
    After migrating from Brex to Rippling Spend, I can confidently say that Brex's days are numbered. https://twitter.com/...