Quirky – Another round of layoffs to come

Quirky, the New York City startup with the goal of “making invention accessible,” announced to its employees Friday morning that more layoffs could be on the way as it struggles to raise additional capital, the company confirmed to Business Insider. 

Company spokesperson Tiffany Markofsky said in an email that Quirky is considering an additional reduction in headcount and other cost cuts to support the growth of its Internet of Things subsidiary Wink.

Quirky CEO Ben Kaufman delivered the message to New York based employees at a meeting and remote employees via a memo seen by Business Insider.

“In an attempt to preserve our employees’ jobs and the future of the Company, we along with our investors have been actively pursuing several opportunities to raise the capital needed to maintain our business and avoid having to make staff reductions,” he writes. “Unfortunately, we have not been able to obtain sufficient funding to enable us to continue to operate our business at the current levels of staffing.

Chosen excerpts by Job Market Monitor. Read the whole story at New York startup Quirky plans another round of layoffs as it struggles to raise more money – Yahoo Singapore Finance.