Software firm New Relic lays off over 200 employees
According to the company's CEO Bill Staples, the job cuts will be spread across “nearly every function, level, and region”, and about 155 workers in the US will lose their jobs
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SAN FRANCISCO: US-based web analytics and software company New Relic has announced to lay off more than 200 employees as the company struggles to achieve profitability, the media reported.
In a US Securities and Exchange Commission (SEC) filing on Tuesday, the company announced the job cut as part of a larger “restructuring” process, reports SFGATE.
This is the company’s third layoff round in three years.
According to the company's CEO Bill Staples, the job cuts will be spread across “nearly every function, level, and region”, and about 155 workers in the US will lose their jobs as well as up to 57 abroad.
New Relic had 2,700 employees as of the end of March, the report said.
“The roles impacted today reflect the outcome of that thorough review, which required difficult decisions around role redundancies, roles or skills not aligned with our strategic priorities, and the performance of individuals, teams, and programs,” Staples was quoted as saying.
“It will be difficult to say goodbye to these Relics, and will be even harder for them as they learn this news,” he added.
New Relic, which went public in 2014, focuses on providing engineers at companies (such as Adidas and Anheuser-Busch, it boasts) with data to help them “monitor, debug, and improve” their software stacks, but the company is not profitable, the report mentioned.
Meanwhile, US-based online food ordering company Grubhub has announced to lay off about 15 per cent of its workforce, or nearly 400 employees, to maintain "competitiveness" in the market.