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.
- Seattle City Council kills sale of street for Sodo arena; Sonics fans despair
- This drone footage of inside Bertha’s tunnel is like something out of ‘Star Wars’
- Ted Cruz ends his bid for Republican presidential nomination
- Man killed by car pulling out of Seattle parking garage
- Bertha under the viaduct: Drilling that shut highway is nearly 30 percent done