Cloud services provider BitTitan has laid off 15 percent of its workforce as the Bellevue, Wash.-based company reorganizes itself.
The startup confirmed the cuts to GeekWire Monday, noting that “less than 30 employees” were let go. Here’s the company’s full statement:
“BitTitan announced today that it has implemented a 15% reduction of its workforce in an effort to reorganize the company, get back to our startup roots, and realign focus around our products, services, customers, and market need. This resulted in the layoff of less than 30 employees. All employees impacted will receive a severance package and career transition services, including counseling, resume assistance, and career coaching. BitTitan does not anticipate another round of layoffs. After today, there are just under 200 individuals currently employed at BitTitan.”
Founded in 2007, BitTitan sells to IT service providers, value-added resellers, and system integrators, helping them migrate to the cloud. It originally built something called MigrationWiz, and now sells software under the MSPComplete name, which BitTitan describes as a platform “designed to help our customers organize, optimize, and automate services delivery.” The company competes with Dell, Amazon, Google, Microsoft and others.
BitTitan CEO Geeman Yip bootstrapped the company for nearly a decade before raising a $15 million round in June 2016. BitTitan, which won the Next Tech Titan honor at the GeekWire Awards in May, also secured 62,000 square feet of office space in downtown Bellevue a little more than a year ago. At the time, the company planned to have more than 260 employees by the end of 2017.
In October, BitTitan hired a new director of sales, David Geevaratne, who previously founded New Signature. The company, which has an additional office in Singapore, is hiring for 31 positions on its jobs page, including director of IT, director of marketing, director of global HR, and director of product management.