Fintech Bench conducts layoff while others still work month-to-month

Bench, the start of the accounting operation and taxes that were purchased in a fire sale last December, conducted a round of important demobilization, according to Techcrunch.

The bench did not specify the number of people who were affected, but a person working there estimated that the bench was canceling dozens of positions – this is a large part of about 300 people working in the company.

Sections such as the success of the customer and tax services were directly affected, with one person directly aware of the issue that tells Techcrunch that most of the tax consulting team in the United States in the United States has been canceled.

SAFFERNY.COM, San Francisco HR Tech, which bought Bench last year, told Techcrunch the decision to make discounts “not lightly made.”

“We strongly appreciate the contributions of our employees who worked hard to keep these accounts,” said the employer CMO MATT CHARNEY.

Under the previous ownership, Bench raised more than $ 110 million of VC financing and more than $ 50 million of debt, but did not reach profitability. The company was burned through its money and closing it suddenly, fully laying down its employees and leaving thousands of customers without reaching their books. After that, Porking.com has passed, buying the bench for $ 9 million, re -employing most of the workforce on startup, and pledged to revive the startup.

This step saved a seat of total collapse.

But two current workers of the bench, one of them previously told Techcrunch that Bench had kept most of the workforce on independent contractors, and renewing their contracts for 30 days every month instead of employing them as full -time employees. At the time of sale, Porkers.com said this was a temporary procedure.

These people also told Techcrunch that Pentch has internally said that the majority of its working power will be based outside North America. However, CMO Charney said that recent discounts reflect “facts to circumvent business and address old issues, rather than being part of any strategic strategy initiative.”

I told Charney Techcrunch that Bench continues to explore long -term solutions to employees, which the company calls “seat colleagues”, but this structure was the most applicable option to make people board the plane quickly after the Saaeem.

In addition to structuring its working power, the bench has faced other challenges, and the current and former seat colleagues said to Techcrunch. For example, there are a large number of bench clients who were thrown after the tax season ended on April 15. The bench was also unable to finish many customer taxes on time, and he also told one person familiar with the Techcrunch issue.

Some frustrated clients also claimed that Bench has submitted fees to people who had already paid them under previous ownership. (Tell the Techcrunch seat at the time that it honors all the prepaid services.)

Charney Techcrunch told that while some customers left, this was a partially deliberate step to give up unborn customers.

“Although we saw a rise in customer butter, a large part of it was intended and necessary,” said Charny. “With the passage of time, the decisions of pricing and the old service that were taken before acquiring the bench to a sub -group of customers who are supported.”

Charny added that the proceeding, Bench has plans to develop both the main features and factors.

For more information, read the full statement of Promicser.com on seat hairstyles here.

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