Human Resources Startup Zenefits Is Laying Off Almost Half Its Employees (buzzfeed.com)

An anonymous reader shares a report: Zenefits will lay off 45% of its employees in an effort to slash costs, according to an internal memo this morning that was obtained by BuzzFeed News, a stark acknowledgment by the embattled human resources startup that its onetime expectations for growth were vastly inflated. Roughly 430 workers will be cut, including 250 in Zenefits' San Francisco headquarters and 150 in its office in Tempe, Arizona, leaving the company with about 500 employees, according to the memo and a person briefed on the matter. That's about a third of the size it was a year ago, when it ousted its founding CEO, Parker Conrad, over revelations that it flouted state regulations for selling health insurance. Thursday's announcement, coming on the morning after the one-year anniversary of Conrad's departure, is the third round of layoffs -- and the largest -- to hit the company since the crisis began.

Comments

I miss FuckedCompany.com

[bigdady92]

That site was one of the best places to go for company meltdowns, layoffs, rumors of acquisitions, malfeasance, and other shenanigans. There's nothing like it nowadays.

Re:Friends with Zenefits

[Motherfucking Shit]

All kidding aside, this is the company where being drunk on the job and having sex with coworkers on company property became such a problem, they had to send out an official memo telling their employees to stop getting drunk and fucking each other at work. At an HR company!