Intrepid Learning Solutions survived the dot-com meltdown in part because it was able to reduce expenses through layoffs.

Now, the Seattle company is cutting back again, this time to adjust to the current economic troubles. Ten employees were recently laid off at the company, a small reduction that accounts for less than five percent of the staff. Intrepid now employs about 240 people, said spokeswoman Heather Muir.

Employees were notified last week, with an all staff meeting held October 25.

"It was one of our more difficult weeks," said Muir.

Intrepid provides online training and management consulting services to companies such as Boeing, Microsoft and Autodesk, but it also has several clients in the embattled financial services sector.

"The steep challenges that many of our financial service clients are experiencing is impacting their current investments in learning and performance," Muir said via e-mail. But she also noted that the cuts were a preventative measure in preparation for what executives believe will be a slower adoption of some training services.

In order to adjust, Muir said the company is undergoing a "broader organizational change" in which it will invest in new training solutions. Those, she said, will help the company respond better to "peaks and valleys of the business."

As part of that effort, the company recently hired Khalid Shaikh of Business Objects to lead the charge as executive vice president of products and solutions.

Muir declined to say whether Intrepid is profitable or discuss the company's cash position. In 2006, it raised a $12 million venture round from Madrona Venture Group, Rustic Canyon Ventures and FT Ventures.