Proptech startup Ribbon plans more layoffs as economic uncertainty lingers, according to CEO's email
— go earlier in the month. Like Ribbon, those companies blamed the cooling housing market and widespread economic uncertainty.
"During the time of uncertainty, we ask team members who are not customer or finance-facing to shift their focus from their work to self-care, spending time with family and doing things that bring you comfort. We ask that you stay 'on call' in case your support is needed to come to a resolution as quickly as possible," he said in the email.First and foremost, thank you for your patience through this challenging time for Ribbon.
I know we have mentioned this already, but RIF will have to be much deeper based upon the events of the last few months, and the uncertainty of what lies ahead. Business circumstances continue to evolve, and unfortunately severance packages will differ from what we originally believed to be achievable. We sincerely regret having to send you this note and would not be making this change unless it was absolutely necessary.
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