As per Bloomberg, Essential (the smartphone maker) just slashed almost 30% of its employees. A spokesperson of Essential verified the slashes to Bloomberg in an email. The email claimed: This has been a hard move to make. We are extremely sorry for the affect on our employees who are leaving the firm and are doing everything we can to assist them with their coming careers. We are sure that our sharpened product aim will assist us to offer a truly game-altering user good.
An unknown source well aware with the layoffs claimed to Bloomberg that the slashes took place majorly among sales and hardware staff. This is yet one more troubling move from Essential, which has had a very unsteady 2018. After sales of the firm’s only handset product (the Essential Phone) failed to make development, the firm terminated its plans for a follow-up and supposedly started seeking to sell off the business.
On a similar note, earlier Essential lifted almost $300 Million in a new round of funding and signed up vendors to trade its first handset. The $699 handset, with a ceramic and titanium case, fought directly in opposition to new handsets from Apple Inc. and Samsung Electronics. Vendors comprised Telus Corp. in Canada and Amazon.com, Best Buy, and Sprint Corp. in the U.S., Essential claimed at the conference in a statement to the media.
The firm, established in late 2015 by Chief Executive Andy Rubin, claimed that Access Technology Ventures guided the round of funding, which brought its entire investment lifted to $330 Million. Strategic sponsors also comprised Foxconn, electronics contract manufacturer; Tencent Holdings Ltd.; and Amazon.com, which took part through its Alexa Fund. Former investors Playground Global and Redpoint Ventures also took part. Some of the features of the Essential phone, such as a removable 360 Degree camera, are also obtainable on Samsung models, which are heavier.