San Francisco-based health benefits broker Zenefits is laying off another 106 employees, or 9 percent of its staff, The Wall Street Journal reports.
Here are five things to know about the layoffs.
1. The layoffs affect 61 people in the company's Arizona sales office, which is being shut down, and 45 others, mostly from the company's operations team.
2. The layoffs mark the latest restructuring by Zenefits, which is reeling from regulatory issues and missed sales targets, according to the report. In February, the company laid off 250 employees, or about 17 percent of its workforce. The cuts were announced shortly after David Sacks replaced Zenefits co-founder Parker Conrad, who stepped down as CEO.
3. Following the newest layoffs, Zenefits will have less than 1,100 employees.
4. Amid the most recent layoff announcement, a Zenefits spokeswoman confirmed to The Wall Street Journal that the company is still being investigated by multiple state insurance regulators because its staff allegedly sold insurance without the proper licenses. She noted that Zenefits has fixed its past licensing issues and that it self-reported these issues to all 50 states.
5. Mr. Sacks told The Wall Street Journal Zenefits is offering voluntary separation packages to other employees who may want to leave the company. He also told the publication the company plans to launch a second version of its product, or "Z2," that he described as a "total redesign of Zenefits," this fall.