Founders and venture capitalists aren’t the only ones experiencing volatility right now: Silicon Valley Bank employees are seeing their jobs in flux as their employer falls apart. SVB, which was closed down yesterday, is now being run by regulators. And while employees are no longer employed by the bank, they got an e-mail from “the office of the CEO” saying that they have jobs for the next 45 days at 1.5x their current salary.
The e-mail, confirmed by multiple sources to TechCrunch, says that the enrollment process for all SVB employees into the Deposit Insurance National Ba
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