Tag: Layoffs

08
Oct
2020
Posted in technology

Progress makes layoffs at Chef after $220M acquisition, says it remains committed to roadmap

Progress CEO Yogesh Gupta

Business application platform Progress is making an unspecified number of job cuts at Chef after completing its previously announced $220 million acquisition of the Seattle-based enterprise automation technology company this week.

People impacted by the cuts include a portion of Chef’s engineering team, including employees in Seattle and other locations, prompting former colleagues and others in the developer community to rally around them on the #cheffriends hashtag on Twitter.

In an interview with GeekWire this week, Progress CEO Yogesh Gupta said the 40-year-old Boston-area company remains committed to Chef’s product roadmap, open-source projects and business customers, calling Chef a strong cultural match for Progress and “a perfect fit from an overall strategy perspective.”

“We continue to see tremendous potential moving forward with the folks from Chef that have come on board, and the Progress team working together,” he said.

Gupta said Chef’s strengths in enterprise automation and developer operations security (DevSecOps) are especially good complements to Progress’s existing technologies. He expressed optimism that the Progress’s larger scale in areas such as tech support and customer success, as well as its outsized investments in research and development, would further elevate Chef’s efforts.

Pressed for details on the cutbacks, Gupta declined to acknowledge or address any layoffs, saying he was limited in what he could say given Progress’s status as a public company. Based in Bedford, Mass., the company publicly traded on the Nasdaq. However, a spokesperson followed up with a statement from Gupta: “While not everyone from Chef is continuing with the go forward organization, it is our commitment is to treat everyone fairly and respectfully.”

Progress executive Sundar Subramanian will serve as general manager of the Chef business, he said in a post on the Chef blog this week. “I believe Progress can build on what

08
Oct
2020
Posted in technology

Asia Business Leaders Show Signs Of Optimism, But Expect Layoffs To Continue

Chinese astrology has it that 2020 is a “metal rat” year, and is associated with turbulence. Covid-19 has certainly provided a quantum of it. With a steep market dive in the first quarter, and sharp worldwide economic contraction, Asian business has had a rough ride. As star signs go, 2020 has so far lived up to its ratty astrological reputation.

The results of a survey conducted from August to September of Hong Kong-based Asia Business Council’s members, who are the chairmen and CEOs of some of Asia’s leading multi-national companies, collectively valued at nearly $3 trillion, and with some 3 million employees, offer insights against the turbulent backdrop of a year dominated by Covid-19. With a response rate of 83% (58 out of 70 members), the results showed a latent optimism and the confidence to re-tool investment focus. Though the outlook for job growth remains uncertain, not surprisingly, these leaders ranked public health and geopolitics as top concerns for their businesses.

A lot of numbers follow here, but they are very telling. When asked their outlook for business conditions in Asia over the next 12 months, and in spite of significant declines in their own revenues, half said they expect to see an improvement, while 33% expect conditions to worsen. Though not a table-pounding endorsement, this is a significant change from 2019, when 55% expected conditions to worsen.

Only 16% of members foresee a prolonged downturn or depression, and just 5% anticipate inflation. The wide distribution of an effective vaccine for Covid-19 is viewed as a pre-condition for a return to pre-pandemic economic levels–an opinion expressed by 91%—that speaks well of the latent, “coiled-spring” potential of