Companies that grew big in an era of cheap credit are finding out the hard way that shrinking can be just as complicated as growing
. But in a brief video presentation on June 9, the de facto chief announced a workplace reshuffling—and then said the 700 employees should check their email to learn whether they still had jobs.
About 100 had been cut, including new hires who hadn’t even made it into the office. Some who missed the presentation got the news from social media or by getting locked out of their corporate email accounts.raising interest rates, companies that have grown up in an era of
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