BloomTech, Previously Lambda School, Cuts Half of Staff

A little over a year after buzzy coding bootcamp Lambda School rebranded as Bloom Institute of Technology, the venture-backed startup is conducting massive layoffs, TechCrunch reported, citing sources. From the report: The workforce reduction, per people familiar with the matter, has impacted half of the company's staff across content, product, data and engineering teams. The layoff is expected to have impacted around 88 employees, using metrics provided in BloomTech's 2022 diversity report metrics. Employees were called into an All Hands meeting this morning in which BloomTech CEO Austen Allred notified staff of the impending layoffs. After the meeting, those impacted were notified via e-mail. According to documents seen by TechCrunch, employees will get normal pay and medical benefits until January 31, 2023 and are "expected to work" through that period. Those laid off were also offered optional time with managers to talk.

Read more of this story at Slashdot.