Sherpa, a company specializing in AI-powered visa and border crossing services, has laid off 22 employees. This reduction comes as the company aims to become less dependent on external venture capital funding, responding to a significant market shift where revenue-to-valuation multiples have sharply declined. The layoffs, described by leadership as an extremely difficult decision, are intended to ensure the company can continue fulfilling commitments to partners and customers. While the exact total workforce and percentage affected aren't specified, the move reflects broader challenges in the tech and venture capital landscape.
