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Were the engineering cuts were due to pullback in the primary business?

The established part of the business had an appalling half year and couldn’t continue to fund the not-yet-profitable digital part of the business.

If you work for a startup you know there’s always a possibility that the money will run out, but at least you know your runway.

What does “pullback” mean?

Thanks. I meant “a pullback,” as in a euphemism for underperformance. The question was whether the engineers were incidental casualties.