The United States (US)-based start-up Rapid (formerly RapidAPI), has laid off another 70 staff from its bandwidth, two weeks after downsizing its workforce by 50 per cent.
According to multiple media sources, the recent round of layoffs impacted all of its remaining staff in Europe. Many also argued that the layoffs were done in a hurried manner and the company did not offer any support to the employees.
A report by IANS suggested that Rapid terminated nearly 80 per cent of its workforce since April.
Founded by 17-year-old Iddo Gino, Rapid has claimed to help enterprises to find and integrate and manage third-party applications. Last year, the company decided to rebrand itself. It also stated to have four million developers as its users.
The global tech sector witnessed massive hardships in the year 2022. A Mint report suggested that nearly 1,50,000 employees lost their jobs due to global economic headwinds. Big tech and e-commerce giants like Meta, Twitter and Amazon were seen to cut employees in order to keep their businesses profitable. After the acrimonious takeover by the maverick billionaire Elon Musk, Twitter decided to lay off 7,500 employees. Meta also announced to cut nearly 11,000 jobs or 13 per cent of its workforce.
Till now, this year has also not offered any difference. It started with Amazon announcing the layoffs of 18,000 employees. It was followed by Alphabet, the parent of Google, which let 12,000 employees go and Walmart, which announced to fire 10,000 staff.