Boston, Massachusetts-based LogMeIn, a provider of remote connectivity for collaboration and customer engagement, has announced that the company will be laying off 318 employees, including 64 at its oston headquarters. The company's best known product is its GoToMeeting facilitation tool used for meetings, webinars, and mass communication.
It appears that the decision may have been driven by the two private equity/activist firms, Elliot Management and Francisco Partners, which acquired the firm in December 2019 for $4.3 billion. It is expected the transaction will close in mid-2020.
According to a company spokesperson, “LogMeIn is taking steps to determine how and where we prioritize resources and spend as part of our 2020 planning. With this, we will be reallocating investments and roles to align with those evolving priorities, and that will mean eliminating jobs in some areas and creating jobs in others. Boston remains our largest employment site out of our 20+ offices and our global headquarters.”
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?