Scoop: Andreessen Horowitz lays off "majority" of portfolio recruiting team

Venture capital firm Andreessen Horowitz has laid off the majority of a 34-person team that helps portfolio companies recruit talent, Axios has learned from multiple sources.

Why it matters: Andreessen Horowitz is one of the largest and most active investors in Silicon Valley, and this is one of the key "value-add" services that it markets to tech founders.

Zoom in: Remaining members of the firm's "full stack talent" team will be reallocated to specialized investment groups, such as growth or crypto. The plan is to let each group build its own team to meet its own needs, rather than relying on a centralized group.

All team members remain listed on the firm's website.

A firm spokesperson declined comment.