Zenefits cuts nearly half its workforce as startup’s struggles continue

By Heather Somerville SAN FRANCISCO (Reuters) – Zenefits is laying off nearly half its staff as the software startup grapples with the fallout of insurance violations that resulted in hefty penalties from state regulators. The company, which offers free human-resources software to manage benefits and payroll while making its money as an insurance broker, said on Thursday that 430 employees would lose their jobs. The layoffs are part of a widespread restructuring effort to reduce costs and had been planned by Zenefits’ board and previous chief executive officer, according to a company spokeswoman.

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