RigUp lays off 100-plus employees; Founders to get minimum wage

One of Austin’s fastest-rising and most heavily funded startups, RigUp Inc., has laid off a quarter of its of employees, RigUp co-founder and CEO Xuan Yong confirmed with Austin Inno on March 29.

“Based on the economic hit in oil and gas coupled with the impacts of the COVID-19 outbreak, we believe this decision was necessary to support our company’s long-term commitment to our contract workforce and the industries they serve,” Yong said via email.

Several employees suggested on LinkedIn…

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