RingCentral Layoffs: Tidying Up the Books with 8x8 Acquisition Looming?
Summary
RingCentral has conducted another round of layoffs, which one source told Channel Futures was part of an effort to “tidy up the books” in anticipation of acquiring 8×8. Late last year, another unnamed source told Investing.com that RingCentral was working with an investment bank to evaluate a potential deal with 8×8. Regarding the recent layoffs, RingCentral did not return our request for comment seeking confirmation of the number of impacted workers and reasons for the cuts. The former customer success and management executive at RingCentral said he was “a casualty of the fourth round of layoffs” and that it “felt like one of the more difficult situations I’ve had to process in my career.” Schneider wrote that “this decision, although puzzling, will definitely end up benefiting me in ways I don’t quite see yet.” Layoffs in the tech sector might seem puzzling when the U.S. GDP still shows a strong demand for technology. However, many tech companies overhired during the pandemic and have to right-size, said Blair Pleasant, president and principal analyst of COMMfusion.
Classifications
AskAI Classifications
LabelsLinked Companies
