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The layoffs were not a singular event but rather the culmination of several converging factors. The COVID-19 pandemic unexpectedly fueled a surge in video game demand. This led companies to make ambitious investments in acquisitions, mergers, and staff expansion, anticipating sustained growth.
3G Capital is a global investment firm and private partnership built on an owner-operator approach to investing over a long-term horizon. Founded in 2004, 3G Capital evolved from the Brazilian investment office of Jorge Paulo Lemann, Carlos Alberto Sicupira, and Marcel Herrmann Telles. 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.
Laid off its entire 200-person workforce January 2 after attempts to raise more capital failed, TechCrunch exclusively learned. The mass layoff comes just seven months after the startup acquired ...
Carbon Health laid off 8% of staff, or 250 people. Per our own Christine Hall, “the startup’s most recent funding round was a $350 million Series D round in July 2021, led by Blackstone Group ...
The layoffs hitting the gaming industry are largely the result of a handful of trends coalescing. The chief overarching issue comes down to publishers and developers overspending throughout 2021 ...
It wasn't supposed to turn out like this. When 3G Capital and Berkshire Hathaway arranged the food industry mega-merger of Kraft and Heinz back in 2015, the newly formed Kraft Heinz was to serve ...
In fact, it comes on the heels of Qualcomm announcing it was laying off over 1,200 people, Qualtrics 780 and LinkedIn 668. It was no better at startups; Flexport laid off 600, Stitch Fix 558 ...
The agreement planned to result in 3G Capital (which held a 71% majority stake in Burger King) holding a 51% majority stake in the new company, Tim Hortons' existing shareholders owning 22%, and Burger King's owning 27% with the new entity based in Oakville and listed on both the TSX and New York Stock Exchange.