BAKERSFIELD, Calif. (KGET) – It’s been more than a week since the Bitwise company-wide furloughs shook Bakersfield. A business once believed to be filled with so much promise for the city. Now silent while former employees and the city pick up the pieces.
“To see now this, unfold, it’s very frustrating and frankly it’s very angering it’s hard to see so many of my friends, my personal colleagues, friends, counterparts, who are really struggling right now,” Bakersfield City Councilmember Andrae Gonzales said.
Bitwise, made its way into Bakersfield with job opportunities, technology and an entrepreneurial spirit. Now the company has fired its co-CEOs and launched an investigation into what led to the furloughs of its entire workforce.
As more unfolds, city officials say the company seemed to be moving at a dangerous pace.
“They seem to be moving very fast, very big,” Bakersfield City Councilmember Bob Smith said.
“It was almost as if they were trying to be to be too many places all at the same time […] they took on way too much far too quickly and I believe they crossed way too many lines in order to many their cash,” Gonzales said.
According to Councilmember Andrae Gonzales, the city believed in Bitwise, even putting two separate grants into the business. The largest was for $640,000 for Bitwise to work with small businesses. But that contract was close to an end and the city was in the process of considering expanding that contract over time.
“Well clearly now those plans are all halted,” Gonzales said.
This is why Gonzales believes Bitwise must be held accountable.
“Every day it feels like there is another issue related to the financial dealings of the company […] they crossed a lot of lines they shouldn’t have crossed it’s just not clear how many and so time will tell,” Gonzales said.
