Leading sourcing platform SeekOut announced big job cuts last week. A combination of tepid hiring demand + LinkedIn preventing user profiles from being indexed has increased costs and reduced revenue. Like CEO Anoop Gupta says “we have been spending roughly $2 to earn $1, and this last fiscal year, we incurred significant cash burn,”. TechCrunch with the report here

techcrunch.com

Exclusive: SeekOut, a recruiting startup last valued at $1.2 billion, lays off 30% of its workforce

The company says it's refocusing and prioritizing fewer initiatives that will have the biggest impact on customers and add value to the business.