Zeitgold, a Berlin-based startup specializing in automated bookkeeping for small businesses, laid off 75 employees last week, representing 71% of its workforce and leaving only 30 team members. The company decided to discontinue its main product after realizing that, despite years of development, the service still required extensive manual labor, making it unsustainable to scale. Zeitgold will now shift focus to developing new products like tax preparation software that can operate without human involvement. The layoffs affected staff across multiple departments in Berlin and Tel Aviv, and the company has launched a talent directory to support its former employees. This move comes just three months after Zeitgold raised a $29 million Series B funding round.
