The health benefits and human resources startup faced significant challenges in recent months. Former Zenefits CEO Parker Conrad was found to have created software that permitted sales representatives to dodge regulations.He stepped down from his position in February, and David Sacks, formerly COO of the startup, assumed chief executive duties.
Amid the turmoil, Zenefits announced two major layoffs: One in February, affecting 250 employees, and more recently in June, affecting another 106 employees.
But Mr. Sacks has personally invested more than $12 million in Zenefits. And next week, the company will reveal a “reboot” called Z2, a redesign of Zenefits’s software and the introduction of several new features, according to The New York Times.
“This will be the month where we close the chapter on all that stuff, we move past it and we launch the future of the company,” Mr. Sacks said in the report.
For more on this story and the company’s competition, read Farhad Manjoo’s column in The New York Times.
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