[culpable_pickle]

Founded in 2016. Raised 926 million dollars. On track for record profits this year.

Yeah, IMHO this was just an excuse to slim down the fat. Better returns for investors and better position to swoop in and grab other businesses that can no longer get funding. Shrewd but heartless IMHO.

[TuringNYC]

More likely: Worried about runway given difficultly of raising capital, cutting down to ensure burn-rate assumes capital isnt raised.

[choeger]

With profits, shouldn't you have an infinite runway?

[thathndude]

I think we’re seeing a lot of this in the economy today. I think a lot of the inflation were seeing is companies that know they can get away with it given the narrative, and taking the opportunity.

Same thing here, no one can dispute that the overall macroeconomic picture is deteriorating. So you have cover for some fat trimming

[thawaya3113]

The closest public info I can find is revenues of about $125mm in the past year.

With about 4000 employees, that’s an average of about $30k per employee.

That sounds pretty low to make any sort of profit.