Confirmed: Layoffs hit Varolii |
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Confirmed: Layoffs hit Varolii
Varolii, a Seattle software company which provides automated communication alerts on behalf of airlines, banks and utilities, has laid off an undisclosed number of employees due to the ongoing rocky economic conditions.
Varolii executives believed the business was somewhat insulated from the economic downturn in the first half of 2009, driven in part by the fact that automated customer service alerts for flights, bank payments and other scenarios saved corporations money. But as the recession dragged on, Varolii spokesowman Robin Rees said that the company's revenues slowed.
"The economy has not bounced back as fast as we thought it would," said Rees. She said that it was not an easy decision to lay off workers, but the company anticipates a challenging environment in the near-term.
Varolii previously cut about eight percent of its workforce in January 2009. At the time of that layoff, Varolii employed more than 300 people.
After today's cutbacks, Varolii still employs more than 250 people, Rees said. Two sources tell TechFlash that about 50 people were let go in today's layoff, though Rees said that figure is high.
The layoffs come just a month after Varolii was named one of Washington's 100 Best Companies to Work For by Seattle Business magazine.
At one point, Varolii was positioning to go public. It filed for an IPO in 2007, but withdrew the filing a year later due to tough market conditions. In 2007, the company posted a net loss of $4.5 million on revenue of $68 million.
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