Photo: Cara Zimmerman (Flickr)
Angie’s List is laying off 97 employees, almost 5 percent of the company‘s workforce.
The consumer review firm based in Indianapolis announced the layoffs in a filing with the Securities and Exchange Commission.
“It is extremely difficult to make a business decision that will have an impact on our colleagues and their families,” COO Mark Howell said in a statement. “This painful step is part of an overall plan to improve our sales productivity and performance and establish a new performance-based measurement system by which we will evaluate our sales teams.”
Of the 2,000 employees at Angie‘s List, the majority work in sales. The company provides a subscription service that allows customers to find and review service providers.
Angie‘s List has increasingly tried to boost its earnings through advertising.
But, the company has never made an annual profit in its 19-year-history and lost more than $18 million in the second quarter of this year.
“Our business remains sound and we are focused on continuing to make progress on our strategy,” Howell‘s statement said. “We expect to continue to add resources to our sales force over time to support growth in both advertising and e-commerce revenue. This is a challenging time, but we have a strong and dedicated employee base that is committed to our continued success.”