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ALEX BURKE, HOST: Fresno-based Bitwise Industries has furloughed all of its employees due to what its CEO calls an “acute financial crisis.” KVPR’s Esther Quintanilla tells us more.
Ester Quintanilla: Bitwise founder and CEO Jake Sobral said in a statement to the Fresno Bee that the decision is “a very temporary step” and “in the best interest” of the company. The tech-company employs more than 900 people in Fresno, Merced, Bakersfield and several other cities across the country.
Quintanilla: The sign of financial trouble comes months after the city of Fresno and BitWiz announced a project to connect small businesses with digital tools and marketing. The million dollar grant for the Digital Empowerment Center was funded by funds the city received from the American Savings Act. So far, the city has dispersed half to Bitwise. Fresno Mayor Jerry Dyer said the city is in contact with the tech company to determine whether the program will continue and whether any funding should be returned. For KVPR news, I am Esther Quintanilla
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