Milwaukee-based insurance technology firm Zywave Inc. announced a reduction in its workforce Wednesday impacting “a number of employees,” Zywave CEO Jason Liu said in an email.
The layoffs hit as Zywave comes off three years of rapid growth marked by nine acquisitions, and as tech companies nationwide are cutting jobs.
“Similar to many tech companies across the country, macroeconomic factors played a significant role in our decision to allocate our workforce and resources to more closely align with our highest priority programs,” Liu said. “While Zywave’s business is still strong and steady (ending the year with double-digit growth), we’ve begun to see a slowing pace of growth, which means we have a desire to regain operating efficiency with a headcount that matches current demand trends.”
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