Qumulo CEO Bill Richter On Laying Off 80 Employees, Focus On Being ‘All-Channel’
Joseph F. Kovar
“What’s changed is just our perspective on the path to profitability. And we’ve been doing really well in the talent wars, and we’ve scaled up the workforce pretty heavily,’ Qumulo’s CEO tells CRN.
Qumulo this week said it will lay off about 80 people. This comes after so much talk in the last year of a big tech talent shortage, but we’re now seeing more tech layoffs starting to happen. What’s Qumulo’s experience?
Starting at the highest level, the market for unstructured data management, like where we play in, the secular trends are actually really good. And it turns out that good economy versus bad economy, data production in the world doesn’t correlate to economic cycles. I feel fortunate that we operate there. Storing and managing data is not a ‘nice-to-have’ for customers. It’s a ‘must-have.’ So in terms of the broad market, we feel really good.
What’s changed is just our perspective on the path to profitability. And we’ve been doing really well in the talent wars, and we’ve scaled up the workforce pretty heavily. But you go through an economic cycle like this, and you’re like, ‘Hey, have we hired in certain places too aggressively? Can we run more lean? And by virtue of running leaner, go faster?’ And we came to the conclusion that, given all those factors, it was time to make the change. And I’m not one to try to make incremental change and nip and tuck. We said, if we’re going to make a change, we’d rather do it once, do it holistically, and get back to our mission with customers.
Eighty people is what percentage of Qumulo’s workforce?
It’s pretty dynamic because we’re actually going to be hiring for the rest of the year. But we have about 350 people on staff right now, following the changes.