Forbes: Sequoia Capital has laid off seven employees from its operations team last week

According to ChainCatcher, Forbes reported that Sequoia Capital's Chief Operating Officer Sumaiya Balbale stated that the company laid off seven employees from its operations team last Friday, a decision that affects about one-third of the company's staff.

Previous report, on July 20, after the departure of five partners, Sequoia Capital restructured its senior management. Longtime partner Michael Moritz announced he would leave Sequoia to focus on the wealth management firm Sequoia Heritage, which he co-founded. Another senior partner, Mike Vernal, will also depart, while Michelle Fradin, who led the investment in FTX, along with partners Kais Khimji and Daniel Chen, will also leave. Daniel Chen's Twitter bio claims he is a "cryptocurrency mogul."