5 Channel Partner and MSP News Update for May 11, 2023

Akamai Technologies, Microsoft, StackOverflow lay off all employees. Aggregation of headcount reductions in the technology department. Kaseya, N-able Hiring; Gartner Warns Job Cuts Hurt Shareholder Value

By Jessica Davis • May 11, 2023

Thursday is here. Here are five tech news updates, insights, chats, and more to help start his day on May 11, 2023.

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Technology and MSP Partner Program News Today

dismissal: Akamai Technologies Inc. lay off 290 employees About 3% of the workforce will be cut as part of the restructuring, according to Layoffstracker.com. The job cuts are part of a restructuring focused on security and cloud computing.the company too announced First quarter revenues increased 1% year-over-year and increased 4% on a currency-adjusted basis.
further layoffs: Microsoft has cut another 158 jobs beyond its already announced global layoffs of 10,000. According to GeekWire. The company told employees this week that it would not raise salaries this year, citing a “dynamic economic environment.”
layoffs still going ons: StackOverflow also shared plans to cut staff. CEO Prashanth Chandrasekhar writes: in a public blog post The company said it would cut 10% of its workforce, or 58 employees. Chandrasekhar said detailed consideration of strategic priorities such as macroeconomic conditions, focus on profitability, and AI/ML-focused products contributed to the decision to cut jobs.
A tally of current headcount reductions and who they are hiring: Layoffs.fyi reports that 668 tech companies will lay off 193,038 employees by 2023, and 1,056 tech companies will lay off 164,591 employees by 2022. While many companies are cutting jobs in some areas, they are adding new jobs in other strategic areas such as cybersecurity and cybersecurity. artificial intelligence. MSP platform companies such as N-able and Kaseya are also hiring. A manager who can do N report In its first-quarter earnings call, the company said it was taking advantage of the current working environment to hire talent for its research and development division.Mr. Kaseya also recently made a commitment employs 3,400 people At our headquarters in Miami-Dade County.
Headcount reductions could hurt shareholder value: Gartner of the Week issued a warning He warned tech companies that layoffs could ultimately hurt shareholder returns. Headcount reductions come as immediate outlays for severance pay and the cost of restructuring the business around a smaller group of employees. In addition, companies may hire more contractors and increase compensation for remaining employees who are under greater strain.Provided by Gartner some alternatives Organizations can consider reducing workforce-related costs without resorting to headcount reductions.