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Clubhouse, the live audio app that once drew big buzz and interest in a multi-billion-dollar takeover, is “resetting” and letting go of 50% of its staff of a few dozen workers.

Todd Spangler NY Digital Editor Clubhouse is making a major reboot: The once-buzzy audio-livestreaming social app is laying off more than half its staff in what founders say is a necessary strategy pivot. Clubhouse founders Paul Davison and Rohan Seth announced the layoffs in a memo to employees Thursday. “We arrived at this conclusion reluctantly, as we have years of runway remaining and do not feel immediate pressure to reduce costs,” they said. “But we believe that a smaller team will give us focus and speed, and help us launch the next evolution of the product.” San Francisco-based Clubhouse had close to 100 employees, Davison said at the TechCrunch Disrupt conference last October.