Bluestack Systems Inc., a Campbell-based gaming service provider, is reportedly slashing as many as 150 jobs.
The startup, which does business as BlueStacks, told employees in various departments and countries about the job cuts Monday, according to Inc42, a tech news outlet based in India. The company is laying off 60 people in India and between 120 and 150 worldwide, according to the report.
After doubling its size to 600 employees over the last two years, the company felt it needed to cut back, Chief Financial Officer Hue Harguindeguy told Inc42.
"With the changes in the macroeconomy, we had to realign," Harguindeguy said, per Inc42. "We are currently working with the impacted employees to help them find new jobs and roles."
BlueStack representatives didn't immediately respond to a request for comment from the Business Journal.
The 11-year-old company, which has raised $48.8 million in venture funding, according to Crunchbase, offers software that can be used to play Android games on PCs and Macs. Among its investors are Intel Capital, Qualcomm Ventures, AMD, Samsung Ventures, Radar Partners, Andreessen Horowitz and Presidio Ventures.
Since May, 422 tech companies and startups have cut a total of more than 65,000 jobs, according to TrueUp, a job board provider that's tracked layoffs in the industry.