Veritas Technologies Layoffs 2018: Some Cuts As CEO Pushes New Operating Model
Veritas Technologies is cutting 50 senior roles as part of a companywide reorganization that includes “transitioning to a new operating model” and pushing hard into multi-cloud data management, Silicon Business Journal reports.
Former parent Symantec sold Veritas to an investment firm in 2016. The storage and data management firm has spent the past two years shaking off some legacy rust, rightsizing its staff, and moving to subscription software services.
Fast forward to present day and it sounds like CEO Greg Hughes is still fine-tuning the company. In a statement to Silicon Business Journal, a spokesperson for the company said:
“Veritas is moving into the next phase of its transformation, transitioning to a new operating model that’s focused on strengthening our overall business, increasing growth and profitability and accelerating innovation. As we shift to this new operating model, Veritas is restructuring to enable the company to increase investments in critical areas while delivering outstanding customer value and competitive differentiation across our portfolio.”
Hughes succeeded former CEO Bill Coleman in January 2018.
Veritas Partnerships, Competition
On the partner front, Barbara Spicek joined Veritas in September 2017 as VP of global channels & alliances. By April 2018, she rolled out a revamped partner program.
Spicek is widely respected across the channel, but Veritas faces intense competition on multiple fronts. For instance:
- In the enterprise, Veeam appears to have major momentum — with revenues rapidly marching toward the $1 billion level.
- In the MSP channel, Datto and several other companies have successfully recruited and trained thousands of partners worldwide.
- And in the cloud market, upstarts like Druva and Rubrik have caught on with customers.
Several large and midsize IT companies have cut staff in recent months amid continued workload shifts to cloud and OpEx models.