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Fintech MainStreet cuts about 30% of staff, citing ‘incredibly rough market’


MainStreet, a startup that helps other startups uncover tax credits that was valued at $500 million last year, has laid off about 30% of its staff, according to a tweet from CEO Doug Ludlow.
In that tweet, Ludlow said MainStreet “took the difficult step of reorganizing and restructuring the company” this week. He did not say if these cuts impacted all teams across the company or if any executives were laid off. He also did not state exactly how many employees are impacted by the move.
Ludlow added: “We did not take this decision lightly, and we are doing everything within our power to provide as much transition assistance (severance, health care, recruiter and job placement assistance) as is possible…We took this action because we believe that there is a very strong chance that today’s incredibly rough market is …

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