Fungible Inc. laid off an undisclosed number of workers last week.
The Santa Clara startup made "targeted" cuts to its workforce as part of an effort to focus on its storage products, Jennifer Bell, its vice president of marketing, told the Business Journal. Bell declined to say how many workers the data processing and storage company laid off or what the cuts represented as a portion of its workforce.
The company employs about 300 workers, according to both PitchBook Data and LinkedIn.
"Fungible did not make this decision lightly, but believes it necessary to best position itself for the future," Bell said in an emailed statement.
Online trade publication Blocks & Files earlier reported the layoffs.
As part of the cuts, Fungible terminated its entire software product team, Xiaowei Chen, a former product designer at the startup, said in a LinkedIn post.
"I only have less than 60 days to find the next role and maintain my work visa (H1B) status," Chen said in her post. "Considering the current job market, it's gonna be a race against time."
Bell declined to say whether the company is planning any further layoffs in the near future.
Founded in 2015 by Pradeep Sindhu and Bertrand Serlet, Fungible has raised about $323 million in venture funding. Its most recent round was a $200 million Series C in 2020 that was led by SoftBank's Vision Fund, according to PitchBook.
