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Inside Brex’s efforts to burn less cash
What goes up must come down. In the case of spend management startup Brex, this was the case for its employee headcount.
To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. PT, subscribe here. As things have come down to earth, Brex is attempting a reset, announcing this week it cut 282 employees, or nearly 20% of its staff, in a restructuring. The move came after reports the company burned $17 million in cash each month during the fourth quarter and that it is trying to preserve runway.
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