Zenefits to sack another 106 people, buy out others
June 15, 2016
The human resources and insurance software company first started laying off employees in February after it was revealed that some of its sales were brokered by unlicensed staff members, including a reported 80% of all health insurance deals done in the U.S. state of Washington; former CEO Parker Conrad stepped down as a consequence. His replacement, David Sacks, is offering some employees a two-month severance package during this round of layoffs. In May 2015, Zenefits raised a $512.6 million Series C round at a valuation of $4.5 billion.