Intellectual Ventures, the patent acquisition company founded by former Microsoft Chief Technology Officer Nathan Myhrvold, is laying off about 20 percent of its employees, Bloomberg Businessweek reported.
The Bellevue company sent out a memo to its workers Tuesday notifying them of the cuts, Bloomberg Businessweek said, adding that about 140 employees are being let go.
Intellectual Ventures, which has been called a “patent troll” by some, had laid off 5 percent of its global workforce in February.
The most recent layoffs “will enable us to maintain and expand our leadership in the market for invention,” the company said in a statement.
- Designed in Seattle, this $1 cup could save millions of babies
- Trump, Clinton win Washington state primary
- Power restored after major, hour-long outage in downtown Seattle
- Reed brother led detectives to bodies believed to be Arlington couple
- Boeing plans hundreds of layoffs in local IT unit