In this photo illustration, the stock trading graph of Nutanix is seen on a smartphone screen.
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A Bay Area cloud tech startup once valued at more than $2 billion, has laid off 270 employees.
Nutanix, an enterprise cloud software firm headquartered in San Jose, announced 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 company up to $25 million this quarter, Nutanix said in the filing. The layoffs come after “a careful review of our business structure and after taking other cost-cutting measures to reduce expenses,” a Nutanix spokesperson told SFGATE.
“As hard as it is to make decisions that impact employees, we believe this will enable Nutanix to be more efficient and flexible going forward as we navigate a challenging macroeconomic environment,” the Nutanix spokesperson said. “We are committed to treating our impacted employees with respect and supporting them through the transition.”
The spokesperson did not comment on whether laid-off employees have already been notified and what severance employees will receive.
Nutanix is a cloud storage and infrastructure company for corporations, with clients including Home Depot and Volkswagen, according to its website. In 2014, the company was valued at more than $2 billion after a $140 million fundraising round, and it went public in 2016.
According to Layoffs.fyi, a layoff tracker focusing on startups, more than 68,000 workers have been laid off in 2022 so far. A confluence of rough economic headwinds have pushed the tech industry to tighten its once-slack belt, forcing even the largest companies to pause hiring, shut down corporate offices and lay people off altogether.
Hear of anything going on at a Bay Area tech company? Contact Joshua Bote securely at [email protected] or on Signal at 707-742-3756.
