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Bellevue-based online marketplace OfferUp has laid off 22% of its workforce. The layoffs were announced to employees on Wednesday.Â
While OfferUp disclosed the percentage of its workforce affected, it did not provide specific details about the number of employees or the departments impacted. As of Thursday morning, OfferUp listed 483 employees on its LinkedIn page.
The company explained that the decision was part of its ongoing efforts to adapt to changing market conditions.Â
As OfferUp focuses on aligning its resources with key priorities for the future, it has made the difficult choice to reduce its staff, according to King 5.Â
This move is aimed at supporting the company’s transition from being a local marketplace for items to a broader platform for local classifieds and community connections.
In response to the layoffs, OfferUp emphasized its commitment to supporting affected employees through severance packages and career assistance during their transition.Â
The company also reiterated its focus on improving the user experience for its diverse community of consumers, business clients, and partners.
