"RapidAPI headcount down 82% from fresh layoffs less than two weeks after cutting 50% of staff", 5 May 2023

Rapid (previously known as RapidAPI), a startup that built out an API marketplace valued at $1 billion last year, has laid off another 70 employees less than two weeks after letting go of 50% of its staff, TechCrunch has learned.

An affected employee who wished to remain anonymous told TechCrunch that just 42 people remain at the company — down from 230 in April — reflecting an 82% drop in headcount.

All of the company’s remaining workers in Europe, and some based in the U.S., were impacted by the latest round, according to the source. 

TechCrunch reached out to ask Rapid if the latest layoffs had taken place, if Gino was indeed removed by the board and whether a sale was in the works. The company said only that it would get back to us if it chooses to comment.

The source shared with TechCrunch that the layoffs have been “rushed and messy” with “no support being offered” and in some cases, incorrect terminations being sent out before being rescinded.