DigitalOcean is the latest technology company to join the list of layoffs. The technology company and the cloud service provider has reportedly announced 11% job cuts.
According to a report by The Register, the company has sacked about 100 employees immediately and is planning to layoff 100 more. The report was a presentation of the company in which DigitalOcean is talking to the employees about job cuts.
In one of the slides presented the company said, "Our goal was to do this once so we would move forward towards business as usual again. Ongoing reductions are disruptive to the business and more importantly our employees, and we would like to minimize this as much as possible. There is no plan at this moment in time to conduct future reductions in force."
DigitalOcean CEO, Yancey Spruill said that the company's staff is based out of the US and its 70 percent revenue comes from abroad. The report states that the company may prioritize global hiring and may hire people from Pakistan and Mexico at lower wages.
"DigitalOcean has also conducted a management reorganization. We're told the biz aims to reduce reporting layers across geographically dispersed operations and simplify its footprint by focusing on a few global hubs, referred to as "Global Capability Centers", mentioned the report.
Fresh layoffs in Silicon Valley
Meanwhile, it was reported that tech and biotech companies in the Silicon Valley in the US are preparing for multiple rounds of fresh job cuts. To date,...
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