YCombinator backed layoff.ly has announced that they will soon begin laying off 1000 workers a week before those workers even start work. We reached out to CEO John Dollar who had this to say. “Investors are demanding increasing returns and fiscal discipline. In response layoff.ly is changing the game by laying off our workers before they even begin work. With out new AI technology we will automate the process of hiring new workers and firing them immediately ensuring high returns for our investors. This new process will dramatically reduce the cost to onboard workers, since they will never even begin employment.”
In response to the news, Fortune has valued the startup at $10 billion as it leads another round of investment.