Bench didn't specify how many people were affected, but one person who works there estimated that Bench was eliminating dozens of positions ' that's a big chunk of the around 300 people who work for the company. Departments like client success and tax services were directly impacted, with one person directly familiar with the matter telling TechCrunch that most of Bench's U.S.-based tax advisory team was eliminated. Under previous ownership, Bench raised over $110 million in VC funding and over $50 million in debt, but never reached profitability. The company burned through its cash and abruptly shut down, laying off its entire staff and leaving thousands of customers without access to their books. Employer.com then swooped in, buying Bench for $9 million, re-hiring most of the startup's workforce, and pledging to revive the startup. But two current Bench workers and a former one told TechCrunch that Bench has kept most of its workforce on as independent contractors, renewing their...
learn more
