Placester makes mass layoffs, reinstates original CEO

Matt Barba, the tech company's co-founder, will once again resume the top spot as the company 'hunkers down' on new strategies

Some staff members who were laid off were informed Thursday. Others including those at the executive level were told earlier so that they could work on the transition, Seth Price said. All employees leaving Placester will be given severance, he added, which will be based on tenure at the company.