AM I NEXT? NO LOVE AT SECUREWORKS

AUGUST 17, 2023 — 322 EMPLOYEES TARGETED

SecureWorks announced it will be rethinking its real estate footprint and laying off 15% of its workforce, or approximately 322 employees, in its second round of layoffs this year.

CEO Wendy Thomas noted, "Successful businesses are flexible in the way they deploy resources where they're needed most, foster innovation, and make a real impact. We are simplifying our team structure with fewer organizational layers - and meaningful process and technology changes - to empower teammates to be bold, challenge the status quo, and make impactful decisions. "It is difficult to say goodbye to many talented teammates who have become friends, and we will do all we can to support their transition. It is also the right and necessary decision for our business."

FEBRUARY 23, 2023 — Original post…

Atlanta, Georgia-based Secureworks, a cybersecurity company, has announced a 9% reduction in its workforce.

The personnel adjustment will impact 210 employees.

According to CEO Wendy Thomas, "Our business is evolving with our partners and customers in support of their security needs. This demands agile footing and a smaller, more focused team. We are forging a structure that emphasizes simplicity and agility, requiring fewer roles and different skill sets … Our path to profitability will be achieved in part by reducing our spending."

"To those leaving, I want to thank you for all that you've invested as part of the Secureworks team, especially your time, expertise, camaraderie, and shared passion for this work. You will always be part of this community, and your future company will be lucky to welcome you."

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. We see good people being laid off through no fault of their own. 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?

AM I NEXT? NO LOVE AT NEWS CORPORATION

New York, New York-based News Corporation, a mass media and publishing company with an iconic portfolio of brands, has announced a major 5% reduction in its workforce.

The reduction will target 1,250 employees.

According to CEO Robert Thomson, "Obviously, a surge in interest rates and acute inflation had a tangible impact on all of our businesses. News Corp’s initiatives now underway, including an expected 5% headcount reduction, or around 1,250 positions this calendar year, will create a robust platform for future growth.”

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. We see good people being laid off through no fault of their own. 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?

AM I NEXT? NO LOVE AT THE REALREAL

San Francisco, California-based The RealReal, an online and brick-and-mortar marketplace for staff-authenticated luxury consignment clothing, fine jewelry, watches, fine art, and home decor, has announced a reorganization that will include revamping its real estate footprint and headcount.

The company is targeting six stores and 230 employees.

According to an SEC filing...

"On February 15, 2023, The RealReal, Inc. announced a savings plan intended to reduce operating expenses. The Company is reducing its headcount and rationalizing its real estate footprint."

"Under this plan, the Company will (a) terminate approximately 230 employees, representing approximately 7% of its workforce, and (b) reduce its real estate presence."

"At this time, the Company intends to (i) close two flagship stores (SanFrancisco, California and Chicago, Illinois), two neighborhood stores (Atlanta, Georgia and Austin, Texas), and two luxury consignment offices (Miami, Florida and Washington, D.C.), including any co-located logistics hubs, and (ii) reduce its office spaces in San Francisco, California and New York, NewYork."

"The Company will continue to evaluate its real estate presence as it deems appropriate to create efficiencies and to address trends in the marketplace and macroeconomic factors."

The company has been criticized for allegedly selling counterfeit goods.

In November 2022, The RealReal president, Rati Sahi Levesque, admitted that The RealReal spent too much money trying to sell home, art, and kids' items that are too expensive to ship.

It is believed that the company may be an acquisition target as it continues to face significant competition in the consignment marketplace.

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. We see good people being laid off through no fault of their own. 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?