eCommerce Startup, Reduces Employment by 25%, an e-commerce startup that enables anyone with a smartphone to create a web store, has reduced its workforce by about 25% as businesses all over the world adopt austerity measures as a result of a decline in venture capital funding.

Initial reports stated that the platform had been completely shut down, but CEO Monis Rahman told Profit that the startup was still very much in operation and that about 25% of the workforce had been let go. This is because the startup is concentrating on becoming profitable and reducing its reliance on venture capital funding.

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