Saturday, February 17 , 2018, 5:11 pm | Fair 64º


Business Lays Off 45 Employees in ‘Reorganization’

Carpinteria-based laid off 45 employees, or 10 percent of its workforce, last week as part of an “internal reorganization,” according to a company spokesman.

The move has affected some of 460 employees working in departments throughout the website’s Calabasas, Ventura and Carpinteria offices, in addition to remote employees, spokesman David Glaubke told Noozhawk.

The changes, carried out as part of a “reprioritization of financial resources” for the online-learning company, were announced last Tuesday, Glaubke said.

“As the company has rapidly grown and evolved over the recent years, this realignment reflects our growth plans,” Glaubke said. “This year we’ve hired 30 people and the 2013 roadmap includes us hiring 50 more. Our reorganization is not related to market conditions or revenue, but rather making the best decisions for the long-term health of the company.”

The private company, which was founded by Lynda Weinman and her husband, Bruce Heavin, in 1995, provides more than 2 million subscribers access to 87,000 high-quality instructional videos.

In February, announced its acquisition of video2brain GmbH, a European-based online video-training company.

That news came less than a month after the company announced a $103 million growth equity investment from Accel Partners, Spectrum Equity and Meritech Capital Partners.

The move was meant to position the company for expanded opportunities in technology, content and international expansion.

Noozhawk staff writer Gina Potthoff can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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