Denver-based technology company Angi Inc. has announced plans to lay off 350 employees this quarter, attributing the decision to efforts to streamline operations and leverage advancements in artificial intelligence. The layoffs are part of the company’s broader strategy to optimize its organizational structure and support long-term growth.
Headquartered in Denver’s River North Art District, Angi Inc. connects homeowners with contractors specializing in tasks such as plumbing, electrical work, remodeling, and other home improvement projects. As of last year, the company employed over 3,000 people nationwide.
The layoffs were disclosed in a filing with the U.S. Securities and Exchange Commission, where the company explained that they were "cutting jobs this quarter to ‘optimize the organizational structure in support of long-term growth and in light of AI-driven efficiency improvements.’" The move is expected to result in annual savings of $70 million to $80 million for the company.
While the company confirmed that some local employees in Denver have been affected, the exact number of layoffs in the area remains unclear. A company spokesperson stated that only "a small fraction" of the company’s Denver workforce has been impacted. Some affected employees have already taken to LinkedIn to share news of their job losses.
Angi Inc.’s decision underscores a growing trend among tech companies aiming to enhance efficiency through artificial intelligence while addressing financial pressures and seeking sustainable growth.