Bellevue, Wash.-based enterprise software company K2 is restructuring its staff, which will lead to a reduction of about 5 percent of its global workforce, mostly in sales and go-to-market groups.
K2 CEO Adriaan van Wyk told GeekWire Thursday that the moves are tied to expansion of its cloud services that will ship early next year. Van Wyk would not say exactly how many people would be affected, but following the reductions, the company would have a total of approximately 450 people worldwide and 140 people in sales. Van Wyk said the moves are not a sign the company is slowing down, and he added that K2 is on pace to post record revenue this year and is hiring in several other departments.
“I want to hit the year running with the right structure in place, and I don’t want to go through restructuring then, it will be too late for the product launch, that’s why we’re doing it now,” van Wyk said.
The company is also getting ready to move its offices from the outskirts of Bellevue into downtown. Van Wyk said K2 will move into a single floor at the 929 Office Tower, with an option on a second, in April. Approximately 120 work out of the company’s Bellevue office today, and the new office space will have room for up to 160 people.
The company’s tools are designed to accelerate and simplify the creation and modification of software controlling complex business procedures, such as the multi-step, multi-person processing of insurance claims. In July, the company announced several additions and improvements to its line of tools for building business-process applications, including new support for developing Android apps, and deeper integration with popular electronic-signature service DocuSign.
K2’s Appit cloud service, currently oriented toward building apps inside Microsoft’s SharePoint, early next year will be expanded to build standalone apps or apps that run in Salesforce or elsewhere. The expanded K2 Cloud Platform is now available in limited preview.