The Predictive Index, a Westwood-based provider of talent optimization software, has laid off 59 employees, more than 25 percent of its workforce.
A spokesperson said in an email to BostInno that the companies made the choice only after "aggressively eliminating or postponing" discretionary expenses. In concert with the layoffs, CEO Mike Zani and chairman and president Daniel Muzquiz have frozen their salaries.
"[The Predictive Index] is transitioning toward product-lead growth as we help our customers navigate economic uncertainty with talent optimization; as a company, we are facing these same challenges, and these same difficult decisions," the spokesperson said.
To support the workers who were laid off, the company shared with BostInno a spreadsheet that dozens of employees have opted to add their information to in a bid to find new employment. The spreadsheet shows that employees were let go across departments, particularly sales, customer success and people operations.
Zani posted a video on LinkedIn on Monday afternoon in which he emphasized that the employees who were laid off are "fantastic people" whose termination was purely a business decision.
"We would love for them to thrive in your organization," Zani said, addressing hiring managers at other companies. "They're just wonderful, and it's tragic that they've hit the street in this tough time."
The Predictive Index most recently raised $50 million in growth-stage capital from General Catalyst in January 2019. At the time, the company said it had more than 7,000 customers, including Nissan, Subway and Blue Cross Blue Shield.
The company joins a growing list of Boston-area startups and tech firms who have been forced to lay off workers as the novel coronavirus roils the economy. In addition to The Predictive Index, at least 12 companies have laid off or furloughed employees, including Boston tech darlings DataRobot, Hopper and Lola.com.
