Cloud software company Cloud Qualtrics is laying off 780 employees after a comprehensive review of its operations.
CEO Zig Serafin said the firm has rapidly grown and expanded its workforce over the past five years.
But it can no longer support “continued growth at our scale.”
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He said: “Simply put, the organizational structures, work processes, and the way we made decisions previously don’t work for the company we’ve become, or the company we aspire to be.
“The changes we’re making — which touch every team at the company — are necessary for us to capture the massive opportunity in front of us.”
Several hundred jobs will be modified or relocated as part of the restructuring.
900 staff in Seattle
It remains unclear how these changes will impact the Seattle workforce, which accounted for about 900 of the company’s 5,000 employees before the layoffs.
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Qualtrics, founded in 2002, specializes in survey software, enabling clients to collect employee and customer feedback.
This move by Qualtrics reflects a broader trend in the Seattle tech industry.
Several companies like Amazon and Microsoft have implemented cost-cutting measures and reduced their workforces.
In January, SAP also announced plans to cut 3,000 jobs globally, about 2.5 percent of its workforce, while exploring the sale of Qualtrics.
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Employees affected by the layoffs will receive at least 10 weeks of severance, based on their tenure and level within the company.
Qualtrics plans to communicate individual employee status and next steps through Zoom meetings.
It acknowledges the challenges of the situation and encourages employees to work from home during this difficult period.
