Segment, the $1.5 billion data analytics startup taking on Oracle and Salesforce, has cut 10% of its total staff amid the downturn
But stay-at-home orders and social distancing guidelines have squeezed its pool of customers, enterprise companies like Segment are beginning to anticipate a slowdown in their own businesses as IT budgets start to shrink — and is now trying to quickly adapt.
One of the main goals that Segment now has is to build products for "customers being pushed head-first into rapid digital transformation in this new socially-distanced world," Reinhardt wrote. "Balancing these goals in the shadow of the COVID-19 pandemic while making sure that we're well-resourced for the next few years has meant that we had to make the difficult choice of reducing the size of our team and restructuring our organization for this new all-digital world," Reinhardt added. "It's true that yesterday was a very difficult day at Segment. We had to lay off approximately 10% of our team.
Over the past month we've been working hard to understand the impact of COVID-19 on our business. As is true for so many, the situation changes day-to-day, and we've had to make several adjustments as new data emerges.
We're working hard to support the well-being of the people impacted by this layoff as well as the rest of Segment. Recent events have shown us that while there are many things outside of our control, what we can control is how we come together to support one another as we move ahead. Our mission and vision remain unchanged, and never more relevant: to enable customer-focused growth with good data.
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