A Madison tech company will close, ending 47 jobs.

Spredfast, of Austin, Texas, told the Wisconsin Department of Workforce Development on Tuesday it will eliminate its Madison location — formerly called Shoutlet — by Aug. 4, ending the positions of 41 salaried and six hourly workers.

Twenty-one of the employees lost their jobs on Tuesday. The others are being asked to stay until the office closes, Spredfast said in a letter to the state.

“The closure has been prompted by the company’s decision to reorganize its operations and reduce costs,” chief legal officer Melissa Frugé said in the letter. Read the full story here.

Read the Xconomy story here.

Read the closure notice here.