Global IT Firm Veeam Software Lays Off 300 Employees

San Francisco: Veeam Software, a global leader in data management has reportedly laid off 300 employees. The workforce reduction came after Veeam let go 200 workers in a separate round of layoffs last year.

In a post on LinkedIn, a senior campaign account manager said she and “roughly 300 of my colleagues” were “eliminated” as part of an “organizational restructure”, reports Block and Files. The company acknowledged the layoffs, without confirming the number of affected workers. (Also Read: Extraordinary Journey Of Balvant Parekh: Man Who Turned Adhesives Into A Billion-Dollar Industry)

Matthew Bishop, a Veeam Chief Operating Officer, said in a statement “We don’t publicly disclose confidential business plans but we can share we’re ramping up hiring in some areas, transitioning some roles to new teams, and retiring other roles". 

“Our primary focus today is providing the best possible support to those Veeam employees impacted by the changes and assisting them to find their next career opportunity,” Bishop added.

Veeam, which has more than 450,000 customers, was acquired by software investor Insight Partners for $5 billion in 2020. The company also protects customers from ransomware and other cyber threats.

In 2022, Indian-origin Anand Eswaran was appointed as the new Chief Executive Officer (CEO) and a member of the Board of Directors of Veeam. In the same year, Veeam acquired Kasten, market leader for Kubernetes backup and disaster recovery, for $150 million in a cash and stock deal. (Also Read: Rapido posts Rs 675 cr in losses in FY23, revenue up 3X)

The company mentioned that "2023 was Veeam’s best ever year in terms of market share–now number 1 in the global market along with growth and profitability.”