San Diego, California-based Teradata Corporation, a developer of databases, cloud-based data analytics software, and consulting services, has experienced some changes in senior management and the layoff of 83 product and technology employees in San Diego, California, El Segundo, California, and Raleigh, North Carolina.
The short-term (11 months) CEO, Oliver Ratzesberger, has been replaced by Victor Lund who will serve as the interim CEO. The decision appears to be driven by poor share performance and the CEO’s alleged inability to reduce the headcount quickly. However, if you believe the employees, the company’s problems are driven by a lack of management focus on core products and services.
According to a company spokesperson, “These decisions were not taken lightly. Regarding San Diego, Teradata continues to invest in the local San Diego community, bringing approximately 300 jobs to the region so far in 2019. This far outweighs any impact to local employees as part of the changes being made globally.”
Rumors of additional layoffs to be announced in January 2020, going private, and the company’s possible acquisition by someone like Oracle or Salesforce abound.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?