Daptiv is latest tech company to cut jobs |
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Daptiv is latest tech company to cut jobs
This is getting to be a familiar story.
Daptiv, the Seattle online project management company, slashed its workforce this month.
The firm cut 21 employees — about 14 percent of its staff — on Oct. 3.
Daptiv human resources manager Fanny Chen described the job cuts as a "proactive" move to prepare for the worsening economy.
"We’re being really cautious in response to the economy out there and being really frugal with our investors' money," Chen said.
Chen said Daptiv had not yet lost any customers as a result of the economic turmoil.
Daptiv was founded in 1997 and was formerly known as eProject.
The company just raised $9 million from investors in August. Its investors include Bay Partners and Kennet Partners.
Daptiv CEO Jeffrey Pancottine is a former F5 Networks and RealNetworks executive.
Following the layoffs, Daptiv now has 125 employees.
A string of local startups has been laying off workers in recent weeks. The most recent example is online game company WildTangent, which cut 20 people last week.
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John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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