Illustration: Shoshana Gordon/Axios
Some workers and industry watchers posted online that they were dismayed that the cuts are coming less than a month before Christmas.
Driving the news: Draper-based Pluralsight laid off 20% of its workforce — about 400 employees — the company’s CEO announced this week.
- The moves come about a week after Route and Podium laid off scores of employees.
- Venafi, a Salt Lake cybersecurity firm valued over $1 billion, also had a round of layoffs this month, according to former employees who posted on LinkedIn.
- Other companies like Thumbtack, TaxBit and Filevine have laid off workers too.
The intrigue: Some workers and industry watchers posted online that they were dismayed that the cuts are coming less than a month before Christmas.
What they’re saying: “I’m sure it has to do with financials, making sure it’s looking good at the end of the year. But it definitely is not a good look, and it seems shocking that so many companies are doing that,” Nicki Sanders, a Cottonwood Heights blockchain engineer, told Axios.
- She was let go this week by TaxBit, but she said the company provided severance.
Context: The tech industry is bracing for a downturn in 2023, and investors are looking for more proof of frugality.
- Podium, for example, is prolonging a hiring slowdown, trimming office space, cutting software costs and reducing perks, according to a memo obtained by Business Insider.
ICYMI: How a sluggish finance market could change Utah’s tech culture
What they’re saying: “We accept full responsibility for the decisions that led us here, and we are incredibly sorry to have to make these necessary decisions,” Podium CEO Eric Rea and co-founder Dennis Steele wrote, according to Insider.
Flashback: Ocavu, iFit, MX and Homie — which all have Utah ties or are based here — reduced their workforces earlier this year.
What’s next: Silicon Slopes is hosting a networking event from 9am–noon Monday at the organization’s Lehi headquarters for recently laid-off workers and companies that are hiring.
- “I honestly don’t know why this is happening at this time and in this manner,” CEO Clint Betts told Axios. “It’s devastating to so many in our community and their families.”
More Salt Lake City stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Salt Lake City.
