Guild is headquartered in Republic Plaza in downtown Denver. (Courtesy Guild)
Denver-based education startup Guild has cut staff again, a year after its last round of layoffs and two months after naming a new permanent CEO.
A spokeswoman said the company reduced its workforce by 25 percent, cutting about 300 employees from its workforce of 1,200. CEO Bijal Shah announced the layoffs in a letter posted on Guild’s website this week.
Guild co-founder Rachel Romer, seated, with CEO Bijal Shah
Shah, previously Guild’s chief product officer and then chief experience officer, served as interim CEO after co-founder Rachel Romer suffered a stroke last August. In April, she was named to the position permanently.
In the letter, Shah said the decision to cut staff is a result of a company restructuring.
“While difficult, these changes will ensure that moving forward, we operate more efficiently, innovate faster, and continue to deliver strong outcomes for our stakeholders,” Shah wrote. “This restructuring impacts many incredibly talented colleagues who have been integral to building Guild.”
The reason provided for the layoffs echoes what the company said last May, when it laid off 172 employees.
Previously known as Guild Education, the 9-year-old company offers an online marketplace of education programs for working adults. Employers can sign up and pay for their employees to get degrees, specific training and coaching. Notable customers include The Walt Disney Co., Target and Walmart, according to Guild’s website.
Guild has raised roughly $780 million in the past five years, according to company filings with the U.S. Securities and Exchange Commission. The company said it hit a valuation of $1 billion in 2019, and then $4.4 billion in 2022 after raising $175 million.
Guild is headquartered in Republic Plaza in downtown Denver. (Courtesy Guild)
Denver-based education startup Guild has cut staff again, a year after its last round of layoffs and two months after naming a new permanent CEO.
A spokeswoman said the company reduced its workforce by 25 percent, cutting about 300 employees from its workforce of 1,200. CEO Bijal Shah announced the layoffs in a letter posted on Guild’s website this week.
Guild co-founder Rachel Romer, seated, with CEO Bijal Shah
Shah, previously Guild’s chief product officer and then chief experience officer, served as interim CEO after co-founder Rachel Romer suffered a stroke last August. In April, she was named to the position permanently.
In the letter, Shah said the decision to cut staff is a result of a company restructuring.
“While difficult, these changes will ensure that moving forward, we operate more efficiently, innovate faster, and continue to deliver strong outcomes for our stakeholders,” Shah wrote. “This restructuring impacts many incredibly talented colleagues who have been integral to building Guild.”
The reason provided for the layoffs echoes what the company said last May, when it laid off 172 employees.
Previously known as Guild Education, the 9-year-old company offers an online marketplace of education programs for working adults. Employers can sign up and pay for their employees to get degrees, specific training and coaching. Notable customers include The Walt Disney Co., Target and Walmart, according to Guild’s website.
Guild has raised roughly $780 million in the past five years, according to company filings with the U.S. Securities and Exchange Commission. The company said it hit a valuation of $1 billion in 2019, and then $4.4 billion in 2022 after raising $175 million.
