Cash-rich Cohesity blames pandemic for job cuts

Cohesity today cited the covid-19 pandemic for laying off or furloughing “a small percentage” of its 1300-strong workforce. The data management startup is cutting the jobs just one month after completing a $250m funding round.

The company declined to specify numbers, but said in a statement today that it “remains focused on spending investment dollars wisely to ensure fiscal responsibility and long-term success”.

Cohesity added: “To manage through this time of economic uncertainty and volatility, Cohesity has taken steps to reduce our operating expenses. Unfortunately, as part of that effort, a small percentage of employees have been furloughed or are no longer with the company. This is not a decision the company takes lightly. We value contributions from each and every employee and regret that the pandemic has created this challenging period.”

In semi-related news, Nutanix is to furlough 1465 staff – a quarter of the workforce – for two weeks, on a rolling basis between now and October.