The new owner of Portland software company Puppet began laying off staff last week, eliminating dozens of jobs less than three months after completing the acquisition.

Puppet’s layoffs are the latest in a string of cutbacks by Oregon tech companies, but it’s not clear they reflect a broader downturn in the state’s technology economy. Oregon tech employment is at an all-time high and the state’s jobless rate is near a historic low.

Minnesota-based Perforce Software announced plans to acquire Puppet in April and closed the deal a month later. Puppet makes software that helps technology managers run data centers and other large computing networks by automating some key functions.

Privately held Perforce didn’t disclose terms of the acquisition and didn’t immediately respond to an inquiry about the layoffs.

Founded in 2005, Puppet was Portland’s largest homegrown technology company and played a central role in developing Oregon’s software industry in the years following the Great Recession. Puppet employed 500 at the time of its sale.

It’s not clear just how many people lost their jobs last week. A spreadsheet circulating among Puppet employees identifies 16 people who were laid off, in roles ranging from software engineering to vice president. Current and former employees say they believe Puppet laid off several dozen altogether.

Layoffs are common following large acquisitions as new owners eliminate duplicate roles and reduce staff to meet financial targets and narrower business objectives.

Puppet’s layoffs come amid a tumultuous period in the U.S. economy, as soaring inflation undercuts a robust labor market. The conflicting signals have economists puzzling over the nation’s outlook.

In Oregon, legal technology firm Smarsh laid off employees last month as part of a broader reorganization and HP furloughed dozens of manufacturing contractors amid a slowdown in printer demand. Intel, Oregon’s largest corporate employer, is slowing hiring in reaction to a steep downturn in its sales outlook.

Overall, though, there’s no evidence that the job market is weaking. Job growth remains brisk nationally and Oregon still has far more job vacancies than unemployed people.