Opinion

June 16, 2020

Corporates — back employee spinouts rather than just cutting jobs

10 years ago, Nokia’s Bridge programme for employees it had made redundant created 300 new startups.


Chris Locke

3 min read

Photo by Fabio Comparelli on Unsplash

Since March 11, over 430 tech startups have laid 50,000 employees off, with many more furloughed. The cuts have hit nearly every industry — including global tech companies like Uber, Lyft and Airbnb —and the cuts don’t stop there, as Rolls Royce announced 9,000 redundancies last week and the major banks are expected to be next.

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