Boston, Massachusets-based DataRobot. a technology vendor offering an automated machine learning platform for data scientists, has announced a downsizing initiative resulting in a reduction in force.
The investor-driven downsizing effort impacted approximately 26% of the company's workforce, about 260 employees.
Interim CEO and board member Debanjan Saha noted...
Since the beginning of the year, our team has taken steps to adapt to changing market dynamics and put in place more cost discipline, including the workforce reduction in May. It’s become clear that these earlier steps were not enough to make progress toward our targets and goals. This will require a different approach going forward, and additional change.
We brought the company together today to discuss a restructuring of the business and a reduction of our global workforce. We’re taking decisive action to reorganize the company to focus on our strengths — innovation and delivering value for our customers — and position DataRobot for long-term sustainable growth.
"First, we’re reducing operational expenses to create a more efficient and sustainable operating structure, including the difficult decision to make additional reductions to our workforce. These actions, coupled with our strong balance sheet, will give us years of runway and position us to make the necessary investments to capture the enormous market opportunity in front of us."
"I’m confident that these changes will help us refocus on what sets DataRobot apart from the rest of the industry, and emerge as a stronger company for years to come."
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?
