Managed services News
CDW Layoffs: 5 Things To Know
Wade Tyler Millward
CDW has cut employees who were with the company for more than 10 years and multiple employees involved with Digital Velocity and Microsoft Azure.
CDW Was Spending Leading Up To Layoffs
The layoffs also come about two months after CDW acquired Locus Recruiting, a consulting firm that specializes in information security, cloud computing, networking and infrastructure.
On Feb. 8, CDW reported earnings for for its fourth fiscal quarter and full 2022 fiscal year.
The quarter saw $5.4 billion in net sales, a 1.8 percent decline year over year. The year saw $23.7 billion in net sales, a 14.1 percent increase year over year.
Gross profit for the quarter was $1.2 billion, up 21.1 percent. Gross profit for the year was $4.7 billion, up 31.3 percent.
Net income for the quarter was $287 million, up 33.4 percent. For the year, net income was $1.1 billion, up 12.7 percent.
The company’s CEO saw her total pay package rise along with the fortunes of the company last year.
According to CDW’s 2023 proxy statement, CEO Christine Leahy received total compensation of $11.12 million for the fiscal year ended Dec. 31, up from $8.9 million the year before.
That compensation included $985,000 in base salary, $3.5 million in stock awards, $3.5 million in option awards, $2.9 million in non-equity incentive plan compensation and $194,000 in other compensation.
The median of the annual total compensation of all workers other than Leahy was $107,403, making a 103-to-1 ratio.
