Joonko Layoffs

About

Israeli AI startup Joonko, which developed a platform to help companies with diversity, equity, and inclusion goals, has effectively shut down after filing for Chapter 11 bankruptcy. The company, which employed around 50 people at its peak, laid off its entire workforce last summer following a major scandal. This collapse was triggered by the departure of its former CEO, Ilit Raz, amid serious allegations from the board of "egregious, unethical, and fraudulent conduct." The closure process is now being finalized by the COO, with the company planning to distribute its remaining $4.25 million to investors. Joonko had raised $29.5 million since its founding in 2016 and is currently under investigation by U.S. regulatory authorities.

Source

Related Events

More HR Layoffs