US fintech Carta reportedly conducts third round of layoffs this year
San Francisco-based equity management tech firm Carta has reportedly axed a number of jobs as part of its third round of layoffs this year, following previous cuts in January and July.
The news was first reported by Fortune, which says it received confirmation from three employees at Carta, including one who was impacted by the layoffs. However, the total number of employees affected by the latest round of cuts is currently unknown.
At the time of going to press, Carta has not responded to a request for comment.
The latest round of layoffs caught employees by surprise, a source tells Fortune, with the company reportedly attributing the cuts as being part of wider restructuring efforts.
The firm, last valued at $7.4 billion, laid off 10% of its staff at the beginning of this year, impacting around 200 employees.
The start-up also recently became embroiled in controversy, with some employees alleging cases of wrongful termination and harassment, according to reports by Fortune and Insider.
Following the reports, Carta’s CEO Henry Ward published a post on Medium to address the “negative press” surrounding the start-up, in which he writes “Most negative press is sensationalized noise (media)” and that “Employees matter most” to the company.