Brex, valued at $12.3B earlier this year, lays off 11% of staff as part of restructuring

Corporate spend management startup Brex has laid off 136 people, or 11% of its staff, across all departments as part of a restructuring, the company has told TechCrunch exclusively.
After the layoffs, Brex has just over 1,150 employees.
It’s been a tumultuous year for Brex, which announced in April that it was leaning into the enterprise segment. That new focus led to the company announcing in June that it would no longer work with small businesses or non professionally-funded startups. The latter news caused a bit of an uproar — and some feelings of abandonment — in the startup co

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