According to a Washington State Employment Security WARN report, and information from Geekwire, a company considered at one time the “crown jewel” of Seattle’s tech industry is closing its location there.
Zulily to ax all jobs in Seattle
WARN (Worker Adjustment Retraining Notification) reports are part of a new 2023 WA state law, requiring companies that have a total of at least 100 workers to notify the state if they plan to lay off workers or close.
Thursday, WARN and Geekwire reported the job cuts in Seattle, along with hundreds more expected in February of 2024 in Ohio and Nevada. The Seattle office will close, and the cuts are said to be effective no later than February 7th.
Geekwire reported earlier this fall there were two lawsuits against the company concerning unpaid invoices, and some vendors who sold them products were not getting paid. Los Angeles-based private equity firm Regent purchased the online retailer in May.
According to Geekwire:
“Founded in 2010 by former Blue Nile executives Darrell Cavens and Mark Vadon, Zulily got its start by offering daily deals on products for moms and kids, and later expanded its product selection. The company used an unusual business model, selling products on its site before ordering them from vendors.”
The company went public in 2013, with an estimated total value of $4.5 billion, but has now fallen on harder times.