Leaked memo reveals Overtime, a sports media startup backed by Andreessen Horowitz and Kevin Durant, just laid off 20% of its staff. They got no severance or healthcare unless they signed an NDA.
Overtime has raised $35.3 million in seven rounds of funding to date. Company investors include Andreessen Horowitz, Spark Capital, and NBA players Kevin Durant and Carmelo Anthony.
According to internal documents seen by Business Insider, Overtime only agreed to give laid-off employees one month of health insurance if they agreed to sign a nondisclosure agreement. The company that strove to be the "ESPN for Generation Z" just laid off more than two dozen workers without severance pay in the thick of the worsening coronavirus pandemic.
An internal document seen by Business Insider reveals that the company offered one month of health insurance only to employees that signed a nondisclosure agreement about the layoff. Employees did not receive additional payment as part of any severance package. Overtime CEO Dan Porter said the economic recession caused by the novel coronavirus had led to less revenue, and that the company had lost money due to theOvertime has raised $35.3 million in seven rounds of funding, including a $23 million Series B funding round in February 2019, according to Crunchbase.
Overtime's investors include Andreessen Horowitz, Spark Capital, and Sapphire Ventures, as well as NBA players Kevin Durant and Carmelo Anthony.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Overtime Sports lays off at least 22 workers without severance - Business InsiderLeaked memo reveals a sports media startup just laid off 22 people without severance or healthcare into the teeth of the coronavirus pandemic — unless they signed an NDA
Consulte Mais informação »
What Do Sports Fans Watch When They Can’t Watch Sports On TV?It’s a question that obviously looms large for networks like ESPN but also for brands that are interested in reaching sports fans. Some recent data offers clues.
Consulte Mais informação »
NCAA Division 1 Athletes Get Another Shot At Spring SportsSchools have been authorized to offer spring sport athletes whose schedule was shut down by the coronavirus an extra year of eligibility so they can play an extra season.
Consulte Mais informação »
NCAA grants waiver for all spring-sports athletes to receive extra year of eligibilityThe Council faced several alternatives: Covering athletes in winter and spring sports; only athletes in their senior year; athletes in all classes.
Consulte Mais informação »
Idaho Gov. Signs Bill Barring Male Athletes from Women’s SportsIdaho governor Brad Little on Tuesday signed into law a bill preventing male athletes who identify as women from competing in state-funded female sports, as well as a bill prohibiting residents from changing their sex on their birth certificate.The sports bill was sponsored by State Representative Barbara
Consulte Mais informação »