Angi Inc. is laying off 350 employees this quarter, citing AI among the reasons. The Denver company expects to save between $70 million and $80 million per year.
DENVER — Angi Inc., one of Denver’s best-known consumer technology companies, is laying off 350 employees this quarter as the company seeks growth and artificial intelligence makes its operations more efficient.
Headquartered in Denver’s River North Art District, Angi Inc. (Nasdaq: ANGI) connects customers with home improvement contractors such as plumbers and electricians for repairs, renovations and other jobs. Last year, the company employed more than 3,000 people nationwide.
The company said in a United States Securities and Exchange Commission saying it would cut jobs this quarter to “optimize the organizational structure to support long-term growth and in light of AI-driven efficiency improvements.”
Some layoffs have already affected local employees, some of whom announced their job loss on LinkedIn, but it’s unclear how many of the layoffs were in the Denver area.
Only “a small fraction” of Angi Inc.’s employees in Denver are affected by the layoffs, a company spokesperson said.