Start-Ups Braced for the Worst. The Worst Never Came.
Getaround, a car sharing start-up, started the year by laying off 150 employees and scaling back some operations after it spent too much on a rapid expansion. Two months later, with the spread of the coronavirus, business got even worse. The company laid off another 100 employees, asked those who remained to volunteer for pay cuts, obtained a government loan of $5 million to $10 million and battled bankruptcy rumors.
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