Four months after the close of Citrix and Tibco’s $16.5 billion merger into Cloud Software Group—and amid high inflation, rising interest rates and concern of a possible global recession—the cloud and enterprise application vendor became the latest tech company to lay off employees.
CSG CEO Tom Krause said in an online post Wednesday that CSG cut about 15 percent of its workforce in an effort to make a more streamlined company with cash to invest in products, technology and acquisitions in an increasingly competitive cloud market. He also posted some of the statement to his LinkedIn account.
Sources close to the situation told CRN that 15 percent of CSG’s employees means about 2,000 jobs were cut. The roles range from commercial sales to channel software engineers.
“It’s a sad day for a company that pioneered the VDI [virtual desktop infrastructure] market,” one source told CRN. “It’s a terrible day, with a lot of good Citrix employees with families and kids leaving the company. This is brutal.”
[RELATED: ‘Brutal’ Citrix, Tibco Layoffs Hit Thousands Of Employees: Sources]
CRN has reached out to CSG for comment.
The tech industry as a whole has been hit by a wave of cutbacks .
Salesforce, Cisco, HP Inc., Intel, Elastic, Aqua Security, AvePoint and N-able are some of the vendors to announce cuts recently.
Here’s what you need to know about Citrix and Tibco’s job cuts.
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Wade Tyler Millward is an associate editor covering cloud computing and the channel partner programs of Microsoft, IBM, Red Hat, Oracle, Salesforce, Citrix and other cloud vendors. He can be reached at [email protected].
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