SALT LAKE CITY — Qualtrics, co-headquartered in Provo and co-founded by Utah Jazz owner Ryan Smith, announced layoffs for 780 positions within the company.
In the memo sent to employees, Qualtrics CEO Zig Serafin said the company has "tremendous momentum" but that layoffs were necessary.
"Rapid hiring was essential to enable our growth up to this point, but it also created complexity that does not support continued growth at our scale," the memo reads in part.
Serafin said a "deep review" was conducted of every function within the company and then it was decided to cut hundreds of jobs.
"The organizational structures, work processes and the way we made decisions previously don’t work for the company we’ve become, or the company we aspire to be," the memo reads.
Layoffs will impact "every team at the company" Serafin said and U.S. employees who are impacted will be eligible to receive a minimum of ten weeks severance based on their tenure and level.
"To those who are leaving, I am truly sorry," Serafin wrote in the memo. "I know this explanation doesn’t make it any better for you. On behalf of the entire company, thank you for everything you’ve given to Qualtrics, and for the chapters you have helped to write."
The company has headquarters in Provo and in Seattle, Washington. It's unclear how many positions based out of the Provo office will be impacted by the layoffs.
In March, Qualtrics announced it was being sold for $12.5 billion to private equity firm Silver Lake.
The Qualtrics layoffs join several other Utah technology companies that have also cut jobs in 2023 as the industry has slowed down after the pandemic.
