Seattle-based salary data and software company Payscale has laid off 2% of its staff, the company on Thursday confirmed to the Business Journal.
A company spokesperson said Payscale now has 704 full-time employees, meaning roughly 14 employees were let go. The layoffs come after Payscale moved to remote-first working and shed its office space in Pioneer Square in October.
The Payscale spokesperson said in an emailed statement the layoffs were "a realignment of resources to support a small restructuring effort in 2023" and they mostly impacted sales and support positions. The spokesperson added that laid-off employees "all received resources to help with their transition."
Payscale helps clients manage raises, close pay gaps, develop salary decisions, generate offer letters and allows human resource departments to price jobs to reflect real-time market changes. Individuals can use Payscale to research salaries for different job titles and companies.
Payscale's clients include Nestle, The Washington Post and The New York Times. The company says it has more than 10,000 total customers.
Private equity firm Francisco Partners made a majority investment in Payscale in 2019. Payscale acquired Curo Compensation, a salary software firm headquartered in Edinburgh, Scotland, in August 2021. Payscale merged with Payfactors, a salary data and management company, in March of 2021. Private equity firm Insight Partners made an investment into Payscale at the time of the Payfactors merger.
In November 2022, Payscale acquired Agora Solutions, a San Francisco-based compensation tech company.
