A highly valued tech startup with a Birmingham presence laid off 100 employees on March 20, with eight of those affected based in the Magic City.
The startup, Fetch Rewards, a shopping rewards app, and consumer data company, called the move an attempt to “preserve the business’s overall health.” The Birmingham team has 90 employees remaining.
All impacted employees will receive severance, career coaching, and continued health care through COBRA, according to Fetch director of corporate communications Allison Geyer, who added that Fetch was impacted by the Silicon Valley Bank situation, which contributed to the decision to initiate the layoffs.
The job cuts represented around 12% of its staff. After the layoffs, the Madison-based company has 748 employees, Geyer said in an email Wednesday.