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About half of Bandcamp employees have been laid off
(www.theverge.com)
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this post was submitted on 16 Oct 2023
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Funding is drying up due to high interest rates. That’s why these kinda of layoffs happen more frequently right now.
Also, everyone’s doing it so it’s harder for an individual company to be vilified for it. They get to blame it on “market forces”
Funding drying up is real, but if you see an established profit making company doing it, just remember that whenever they do layoffs, share prices rise. The execs get big bonuses for share prices, so sacrificing employees for those bonuses is worth it to them because they are parasites on society.