New Relic has laid off 5% of its workforce

New Relic has announced its plan to lay-off approximately 5% of its total workforce. The company announced on Thursday that they will cut around 110 jobs. Moreover, 90 of these jobs pertain to United States.

Restructuring at New Relic

Web services provider New Relic is the latest company to announced layoffs in Oregon. Furthermore, the company has initiated job cuts in a bid to save cost and employ restructuring at the firm. “It is a painful outcome that impacts the lives of people we care about, but I believe this is the responsible action to take. CEO Bill Staples wrote in a note to employees. Moreover, he stated that company has applied job cuts in accordance with company’s priorities and growth opportunities.

Series of changes in near past

New Relic is a web services provider and its software helps organizations monitor visits to their websites and online tools. The company has gone thorough a series of big changes over the past few years. These steps include changing the CEO and restructuring of their pricing model to improve its financial performance. Previously, the company laid of 160 employees as part of restructuring in April 2021.

Package for parting employees

The laid-off employees will receive three months severance pay along with bonus and other incentives. In addition, the departing employees may keep their laptops and will keep on receiving continued health benefits for 6 months. New Relic is among the largest technology employers within the Portland city. Moreover, they have as much as 600 employees working at its offices at the U.S. Bancorp Tower. However, the exact number of employees working at Portland office is not confirmed after the latest job cuts. Although, the company has assured that it will keep on investing in Portland and will hire more people here.

Many U.S. based tech companies have laid off workers or cut back on hiring in recent weeks. Some of these include tech firms Puppet and Smarsh.

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