Sequoia announces shut down of London office, layoffs expected
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Sequoia Capital is closing its London office, leading to expected job cuts.
- ✓The firm announced the decision on Wednesday, saying it no longer needs a local presence in the UK.
- ✓"This is not about the team — they are excellent.
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Sequoia Capital is closing its London office, with several employees set to leave the venture capital company. Sequoia announced the decision on Wednesday, saying it no longer sees the need to maintain a local presence in the UK.
Sequoia Capital said the decision was not related to the performance of its London team, which it described as excellent. It added that it would continue supporting European founders and companies from its base in the San Francisco Bay Area.
The move is likely to result in job cuts, although the company has not disclosed the number of roles affected.
The closure comes as the UK continues its efforts to strengthen its technology and artificial intelligence sectors by attracting investment. However, many European technology companies have also looked to the US for funding and business growth.
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