Fabric lays off 40% of staff as it shifts strategy from service to platform

Fabric, a New York–based micro-fulfillment company focused on robotics technology for last-mile operations, has cut staff and named a new chief executive. The startup confirmed the changes to TechCrunch, essentially saying that it has seen the writing on the customer wall and is making some strategic changes.

Today, the company officially announced its intentions to move in the direction of being a platform rather than a service. As a result, not everything with the new plan is positive: founding CEO Elram Goren was replaced by COO Avi (Jack) Jacoby 2 weeks ago, and the outfit told its 300-person staff Wednesday that 40% of them would be laid off.

Source: https://tcrn.ch/3ccdFmm