Confirmed: Blackbaud lays off 150 employees
DANIEL ISLAND, S.C. (WCIV) -- The company that was named one of the best places to work in the state last year has laid off 150 of its employees.
"Today, we informed approximately 150 employees across the entire organization and in multiple locations that their positions have been eliminated," said Senior Public Relations Manager Melanie Mathos.
She said that about 50 of these positions are based out of Charleston.
"These employees will remain with us until the end of January (and in some cases longer) and will be provided with support during their transition," she said. "This restructuring provides us with the right foundation to ensure that we deliver the right products, services, and support that our customers, partners, and investors expect from us."
Blackbaud provides software and services designed specifically for nonprofit organizations, enabling them to improve operational efficiency, build strong relationships, and raise more money to support their missions.
Blackbaud works with more than 27,000 customers in over 60 countries that support higher education, healthcare, human services, arts and culture, faith, the environment, independent K-12 education, animal welfare and other charitable causes.
Just last May, Blackbaud announced that it had completed its acquisition of Convio, Inc., a leading provider of on-demand constituent engagement solutions.
Under the terms of the merger agreement, Blackbaud paid an aggregate purchase price of approximately $325 million. Blackbaud financed the deal through a combination of cash and borrowings from its credit facility.
"We are confident that these changes will allow us to serve them better and more efficiently so we can strengthen our offerings and grow into the future," said Mathos.