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Brex, the credit card for startups, cuts staff amid restructuring

Brex, last valued at $2.6 billion, is restructuring its credit card for startups business and cut 62 staff members, the co-founders Pedro Franceschi and Henrique Dubugras said in a blog post.
Today were restructuring the company to better align our priorities with this new reality, while simultaneously accelerating our product vision. With that, I have some very sad news to share. 62 people will be leaving Brex today, the post reads.
The cuts come as Brexs customer base itself is struggling to stay afloat amid COVID-19: high-growth startups. The trickle-down to Brexs core business, which depends on its customers spending money, was thus expected.
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