After years of rapid growth, Guild, a Denver-based technology company focused on employee education, let go of 12% of its workforce on Wednesday.
. In 2019, the company met the definition of a unicorn, a fast-growing tech company worth $1 billion or more in market value.
The company represented a success story among Colorado tech startups and was among only a handful of unicorns out there led by a woman, who happened to be the granddaughter of former Colorado Gov. Roy Romer and daughter of Chris Romer. Laid-off employees will receive three months of pay plus an additional week for each year at Guild, as well as six months of premiums paid for medical, dental and vision coverage. It is also giving departing employees up to two years to exercise their stock options versus the typical three months.
Guild will continue tuition support for former employees’ children enrolled in its Beehive child care program until they age out. And the company will provide job transition support internally and through Mercer, an outside firm, as well as through its alumni network.
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