SoftBank-backed photo and video editing startup Picsart has fired 90 employees, or about 8% of its employees, a company spokeswoman told The Information. Picsart is a state-of-the-art technology company that slows growth in the midst of market turmoil.
Picsart is also at least the third SoftBank-backed company to reduce staff, following cameos. Reduced a quarter of staff Last week, and Leaf Technology, Reduced 750 employees Early this month. The stock market downturn has hit SoftBank itself hard, and CEO Masayoshi Son said last week that the company would begin to take a more cautious approach to making new investments.
https://www.theinformation.com/articles/picsart-a-photo-editing-startup-for-creators-cuts-8-of-workforce Picsart, a photo-editing startup for creators, cuts 8% of the workforce — information