Once-Hot Chat Startup Clubhouse Is Cutting Half of Staff

Clubhouse, the pandemic-era social media sensation, is cutting more than half of its employees, the company said in a blog post on Thursday. Clubhouse attracted attention from an elite stable of venture capitalists, but saw usership drop precipitously not long after its buzzy launch.

The company didn’t disclose the total number of people who were cut. In October, co-founder Paul Davison said the company had about 100 employees and still had “years of cash in the bank.”