Y Combinator cuts nearly 20% of staff, scales back on late-stage investments
Shortpedia
Content Team
Image Credit: bizzbucket
US-based technology startup accelerator Y Combinator is laying off 17 employees, or 20 per cent of its staff, as it announced to scale back late-stage funding. The layoffs came as Y Combinator wrote a petition to US Treasury Secretary Janet Yellen and others in the wake of the Silicon Valley Bank (SVB) collapse, asking them to prevent shockwaves that could lead to financial crisis and layoffs of more than 100,000 workers.
