Jive Software timeline

2001

: Founded, in Iowa by Bill Lynch and Matt Tucker, who attended the University of Iowa; moved to New York later that year

2004

: Moves HQ to Portland

2007

: Blue-chip Silicon Valley venture firm Sequoia Capital invests $15 million in Jive

2008

: Jive lays off a fifth of its staff as it hunkers down for recession

2009

: Jive adds $12 million in venture backing from Sequoia

2010

: Longtime CEO Dave Hersh steps down, replaced by former Mercury Interactive chief Tony Zingale; moves headquarters from Portland to Palo Alto; Sequoia and Kleiner Perkins invest another $30 million in the company

2011

: Raises $160 million in an IPO. At $12 a share, offering values the company at nearly $900 million

2012

: Annual revenue tops $100 million for the first time; stock peaks at $28.15 in March, then plunges below IPO price in October before recovering. Bloomberg reports business software giant SAP was close to a deal to acquire the company but dropped out off talks.

2014

: Growth slows. CEO Tony Zingale retires, replaced by Elisa Steele. Shares slip under $6, half of IPO price

Jive Software, the onetime Portland startup that played a seminal role in the city's high-tech resurgence, said Tuesday it will lay off 100 employees across the business as it realigns the company in hopes of posting its first profits.

Overall, Jive said it intends to reduce its work force by about 14 percent this spring. But the Silicon Valley company indicated the cuts will fall less heavily on its downtown Portland office, which is no longer Jive's headquarters but remains its largest site.

The company indicated it will add new functions to its Portland office and move more executives here as part of Tuesday's restructuring.

Jive had 721 employees at the end of 2015. It doesn't disclose how many work in Portland, but historically it has had about 250 here.

"The talent at Jive is among the best in the industry. The decision to rebalance investments and reduce the number of employees has been difficult," chief executive Elisa Steele said in a written statement. "However, I am confident that these actions will further advance Jive's business performance."

Jive's cuts are the second big job layoff to hit Oregon's tech ecosystem in the last month, following 784 layoffs at Intel in April. The Silicon Forest remains healthy by historical standards, however - Oregon tech employment grew by 4 percent last year, the fastest rate in a decade.

Jive provides business collaboration software modeled on social networking tools. A Wall Street darling at the time of its 2011 initial public offering, Jive has struggled in recent years to convince large companies to adopt their communication tools.

Growth has slowed considerably and investors have soured, on the business, pushing the company's stock down from a peak over $28 to less than $4 at Tuesday's close.

Jive said its cuts will save the business about $10 million in 2016. The company said it expects to be profitable on some measures of its business for the first time this quarter.

In the first quarter, Jive said Tuesday that sales grew 8 percent to $50.7 million. The company lost $7.4 million, or 10 cents a share, compared to an $8.2 million loss, 11 cents a share, in the same quarter last year.

-- Mike Rogoway

mrogoway@oregonian.com

503-294-7699

@rogoway