Four51 Lays Off 20 Percent Of Workforce
Four51, a North Loop tech startup, has laid off 14 employees—or about 20 percent of its workforce—in a restructuring of the company.
“We’ve reduced our focus on direct outbound sales efforts as we direct resources to growing the network of developers and partners building on, integrating, embedding and reselling our platform,” he said. “Less than 15 positions that were responsible for our direct-to-enterprise business are no longer part of this partner-first growth formula.”
Growth has been strong for the company—its client roster includes Cargill, Papa John’s and Taylor Corp.—and the number of employees has risen with it. But the layoffs effectively wipe out the headcount increase for 2016: The company had added 21 new employees in tech and sales as of mid-July with the intention of adding another 15 people by the end of 2016.
In fact, it was crowding at the old office that prompted Four51 to move to new digs. After raising $5 million in February, the company laid out a three-year plan to triple revenues and quadruple its staff size.