Teradici, a 10-year old vendor of technology for virtual desktops, laid off around 20 percent of its staff last week as part of a corporate restructuring, sources familiar with the matter told CRN Friday.
The Vancouver-based vendor, which licenses its flagship PC-over-IP technology to Hewlett-Packard, Dell, Samsung, VMware, Amazon Web Services and other vendors, has been seeking additional funding to continue its operations but hasn't managed to secure any, the sources said.
Now, Teradici is looking to cut costs by laying off nearly its entire North American sales force, through which the vendor has traditionally driven the vast majority of its revenue, said the sources.
Teradici had around 225 employees prior to the recent job cuts, according to the sources. Teradici has raised nearly $73 million in venture capital to date, but its last funding -- an $8.8 million Series A round-- came in 2011, according to Crunchbase.
A Teradici spokesperson confirmed the layoffs to CRN Friday via email and said "fewer than 50" positions were eliminated in the restructuring but did not delineate the job functions that were impacted.
Teradici's restructuring wasn't just aimed at cutting costs, but was also about "reconfiguring our workforce to better serve our customers and partners and to put proportionally more resources into product development and R&D," said the spokesperson.