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The Station: Via hits $2.25B valuation, letters from readers, layoffs in a time of COVID-19

TechCrunch LA

I will repeat my appeal from last week: Maybe you’re a startup founder, a safety driver at an autonomous vehicle developer, a venture capitalist, engineer or gig economy worker. Please reach out and email me at kirsten.korosec@techcrunch.com to share thoughts, opinions or tips or send a direct message to @kirstenkorosec.

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XCOR Aerospace Files For Chapter 7

socalTECH

The bankruptcy follows a layoff of all of the company's employees in July , when it said it was unable to raise money to further fund its spacecraft development efforts. At the time of the layoffs, it said it would be continuing to look for funding.

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Snap Cuts 120 Engineers, Citing Job Performance

socalTECH

Venice, California-based social networking app developer Snap Inc. has laid off more than 120 engineers, according to reports based on internal emails being circulated from the company, saying it had cut its "lowest performing" engineers in recent job reviews. The layoffs represent around 10 percent of Snap's engineering team.

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Source: Adaptec Shutting Down Lake Forest Site

socalTECH

Storage hardware developer Adaptec is shutting down its Lake Forest, Orange County site, according to sources close to the company. No details on the shutdown have been given, and Adaptec has not returned emails and phone calls requesting confirmation of the move.

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THQ Lays Off 100 Employees, Closes San Diego Office

socalTECH

Calabasas-based THQ , which develops computer game titles, is closing its San Diego, UK, and Germany offices, and has laid off 100 employees, according to an email to employees from CEO Brian Farrell. Tags: jobs employment layoff content games wireless. The move is part of a restructuring of the firm's THQ Wireless operations.

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High Functioning vs. Low Functioning Startup Boards

Both Sides of the Table

I work hard to create working relationships with my fellow non-management board members in the same way that every investor ultimately works to develop strong working relationships with founders. Should we cut costs, do layoffs, close divisions and focus scare resources on fewer projects? The founders of a company are fighting.

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Save Your Spin for Someone Who Cares

Both Sides of the Table

He had 2 weeks’ cash left in the bank and was facing massive layoffs or potentially bankruptcy. Our call recovered and we spent the rest of the time talking about the development of their management team and their product. Just notice how many VC emails you get after your TechCrunch article or after you were on stage at TC50.