It has been reported through sources that Argyle, which aims to assist businesses and organizations in gaining access to employment data, has let go of a number of staff members across all areas. A corporate representative confirmed the staff cut to sources, stating that 20 employees, or 6.5% of the team, were let go.
Contractors who could have been impacted by the layoff are not included in the number stated by Argyle. The number of affected contractors, if any, and the amount of severance paid to employees, if any, were not disclosed by a spokeswoman.
The spokeswoman said in an email that “Argyle’s continuous march upmarket, targeting corporations instead of SMBs, needs a certain skill set and the firm did make a change to its staff today.” ” By filling more than 30 unfilled positions, the same spokesman said that the firm is still on schedule to quadruple its staff by the end of the year.
The comment suggests that the company fired employees with greater expertise working with small and medium-sized businesses (SMBs) in order to hire more individuals with an enterprise emphasis.
In October 2020, the firm secured $20 million in Series A funding and said that it processed 10 million user employment records each month. Shmulik Fishman, the company’s CEO, and co-founder declared he aimed to change the way institutions acquire records by introducing user permission.
The objective is to increase employee ownership over their data and increase transparency throughout the process. In an interview that same month, Fishman alluded to his admiration for Plaid, even attributing the startup’s moniker to other successful fintech with patterned branding.
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