Textio laid off 14 employees this week, or 16% of its workforce, as part of a restructuring.
The company confirmed the cuts to GeekWire on Thursday. It has now has 71 employees.
Textio said it is shifting resources to support Textio Lift, a product it released last year which helps managers write feedback and avoid bias while providing reports to leadership.
Founded in 2014, Textio uses artificial intelligence and machine learning to help remove bias from workplace language for hiring and performance feedback. Customers include Bloomberg, Cisco, Hulu, Oracle, Spotify, and Warner Music Group.
The company went through a small round of layoffs a year ago.
More than 200 tech companies have laid off more than 50,000 employees so far this year, according to Layoffs.fyi. Last year, nearly a quarter million tech workers were laid off amid a tightened venture capital market and increased interest rates.
Textio has raised $42.5 million from investors including Industry Ventures; Operator Collective; Emergence Capital; Scale Venture Partners; Cowboy Ventures; Bloomberg Beta; and Upside Partnership.
Textio co-founder Kieran Snyder stepped down as CEO in January. Jensen Harris, co-founder and previously chief experience officer — and Snyder’s husband — is now CEO.
Snyder remains on the board and has a new role as chief scientist emeritus.
“The Textio team has evolved over the years, as has my personal relationship to the company,” Snyder wrote on LinkedIn on Thursday.” But if you’ve been part of it, especially if you were part of it for a sustained period of time, you have me in your corner forever. This is on my mind right now as several people are moving on from Textio this week.”
