Clearco, an e-commerce investor providing equity-free capital solutions to e-commerce businesses, has terminated jobs of 30 percent of its workforce.
Canada-based Clearco co-founder Michele Romanow also stepped down as chief executive of the company, reports TechCrunch.
This is the second round of job cuts, as back in July, Clearco laid off 125 employees or 25 percent of its workforce.
Clearco has 140 staff, down from 500 last year.
In 2022, the company’s other co-founder, Andrew D’Souza, stepped down from his CEO role, to be replaced by Romanow.
Both the co-founders will assume executive chairman positions.
