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Veritas Technologies Layoffs 2020: Targeted Cuts At Data Protection Software Provider

Recent Veritas Technologies layoffs involved a “very small workforce reduction” — which included the data protection company’s CTO (chief technology officer) and some senior engineers, Silicon Valley Business Journal reports.

Still, the company’s ongoing business evolution includes multiple channel and alliance milestones, ChannelE2E notes.

The Carlyle Group, a private equity firm, acquired Veritas from the former Symantec in January 2016. Veritas has been overhauling its business since naming Greg Hughes as CEO in January 2018. The company’s backup and disaster recovery (BDR) software is widely installed within Fortune 500 businesses, but Veritas faces intense competition as customer data protection services increasingly shift to public cloud options and subscription-based services.

Related List: Track all technology industry layoffs here.

Veritas Business Evolution

Mike Walkey, VP global channels and alliances, Veritas

Amid those competitive realities, Veritas in 2018 shifted to a new operating model and pushed hard into multi-cloud data management services. Key milestones include:

Still, Veritas recently cut some positions amid “economic headwinds due to these uncertain times globally,” a spokesperson told the Business Journal in an email. The cuts included 74 employees who had been located at the company’s Santa Clara, California, headquarters, the report says.

To put the cuts in context, Veritas has roughly 7,500 employees worldwide.

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