Angi Inc. is laying off 350 employees this quarter, citing AI among the reasons. The Denver company expects to save $70 million to $80 million annually.
DENVER — Angi Inc., one of Denver’s best-known consumer technology companies, is laying off 350 employees this quarter as the company searches for growth and artificial intelligence makes its operation 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 repair jobs, remodeling and other work. The business last year employed over 3,000 people nationwide.
The company has said in a U.S. Securities and Exchange Commission filing that it is cutting jobs this quarter to “optimize the organizational structure in support of long-term growth and in light of AI-driven efficiency improvements.”
Some of the layoffs have already affected local employees, some of whom have posted about losing their jobs on LinkedIn, but it’s unclear how many of the cuts have been in the Denver area.
Only “a small fraction” of the Angi Inc. employees in Denver are being affected by the layoffs, a company spokesperson said.