Smarsh looking to cut costs. Many Laid Off today 7-19-22
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They are a horrible company, they destroyed Digital Reasoning and they get what they deserve!
The investors (K1) are repackaging their assets, cutting fat on the losers, pumping up the winners. Smarsh has failed to grow, coupled with litigation, security incidents, growing expenses and a platform that doesn't scale - K1 is putting them into the loser category.
Let's see how their womanizing marketing director spins this
They're laying off (have laid off?) 20% of their workforce. Coupled with the new CEO, I'm guessing they're getting ready to be sold.
soooo, they must be seeking another round of equity funding. Whenever they're seeking more funding they fire as many people as needed to look profitable.
A week or so ago they took down 300 open positions in the outward facing website. The employees were buzzing about that.
Starting yesterday and continuing into last night they were laying off people in the US and India. A manager high up in another group, scheduled employees and HR together.
SMARSH is private equity funded now. I also heard they hired a new ceo as of a few weeks ago.