AUGUST 19, 2022 — MORE RESTRUCTURING WITH 90 LAYOFFS
From the company’s 8-K Securities and Exchange Commission filing…
On August 17, 2022, the Board of Directors of New Relic committed to a restructuring plan to realign its cost structure with its business needs as the Company moves to focus its resources on top priorities. In connection with the restructuring plan, the Company will be reducing its workforce by approximately 90 employees in the United States, and up to 20 internationally.
APRIL 19, 2021— Original post…
San Francisco, California-based New Relic, a cloud-based analytics and performance software developer, is continuing their restructuring efforts to compensate for lower revenue streams, increasing costs, and a business model change from a subscription model to pay for what you use consumption model. The restructuring will impact 160 employees.
According to a Securities and Exchange Commission filing...
"The company has committed to a restructuring plan to realign its cost structure to better reflect significant product and business model
innovation over the past 12 months. The Company expects that go-to-market operations in its new consumption-based business model will be more efficient, thus requiring less investment, than in its former more traditional subscription model.
In an effort to eliminate historical barriers to product adoption, the Company is making adjustments to increase its emphasis on overall product experience and reorient its sales organization around customer success. In furtherance of this strategy shift, the Company intends to reallocate some spending to increase its investment on research and development.
The Company believes these initiatives will better align resources to provide further operating flexibility and position the business for its long-term success. In connection with the restructuring plan, the Company will be reducing its workforce by nearly 120 employees in the US, and up to 40 internationally."
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?