Nutanix, Bay Area unicorn startup, laying off 270 employees

A Bay Location cloud tech startup at the time valued at far more than $2 billion, has laid off 270 personnel.

Nutanix, an organization cloud computer software firm headquartered in San Jose, introduced the layoffs — which comprise 4% of the company’s more than 6,000 staffers globally — in an SEC filing dated Tuesday

The layoffs will cost the firm up to $25 million this quarter, Nutanix explained in the submitting. The layoffs occur after “a mindful evaluate of our business enterprise framework and following having other cost-reducing measures to lower charges,” a Nutanix spokesperson instructed SFGATE.

“As tough as it is to make decisions that impact staff, we think this will help Nutanix to be extra productive and adaptable heading ahead as we navigate a demanding macroeconomic surroundings,” the Nutanix spokesperson claimed. “We are fully commited to managing our impacted employees with regard and supporting them by way of the changeover.”

The spokesperson did not remark on irrespective of whether laid-off employees have presently been notified and what severance workers will acquire.

Nutanix is a cloud storage and infrastructure company for corporations, with clientele which include Dwelling Depot and Volkswagen, in accordance to its web site. In 2014, the firm was valued at more than $2 billion soon after a $140 million fundraising round, and it went community in 2016.

In accordance to Layoffs.fyi, a layoff tracker focusing on startups, a lot more than 68,000 personnel have been laid off in 2022 so much. A confluence of tough economic headwinds have pushed the tech market to tighten its as soon as-slack belt, forcing even the premier companies to pause selecting, shut down company places of work and lay people today off completely.

Listen to of anything at all likely on at a Bay Place tech company? Speak to Joshua Bote securely at [email protected] or on Sign at 707-742-3756.