Galvanize, a Denver-based tech educator and collaborative working space, said Wednesday that it is laying off 27 employees and looking to move out of its building in the Golden Triangle, its first location.

The company said 10 employees in Colorado and 17 in five other states are being laid off as it reduces overall operating costs. Galvanize will have 375 employees after the cutbacks.

“While decisions that affect people are always difficult, the actions we are taking now are necessary and will better position the company for growth over the long term,” CEO Harsh Patel said in a statement.

Patel, who has led Galvanize since April, said conversations with the staff at all the company’s campuses during the last month “helped us as a leadership team to have a clearer picture of a sustainable path forward for both our people, our students and our business.”

In addition to the Golden Triangle, Galvanize has sites on Platte Street in Denver; Boulder; Austin, Texas; New York City; Seattle; Phoenix; and San Francisco.

Galvanize started as an office and collaborative space for entrepreneurs. It evolved into a training facility offering computer-related boot camps, but continued to offer a co-working space for startups. Galvanize became one of the early companies to offer crash courses in web development, computer programming and other technology skills.

In August 2017, the company laid off 37 employees, or 11 percent of its workforce.