Pivot3 Mass Layoffs
Pivot3 has conducted mass layoffs, the culmination of grand hopes, a quarter of a billion dollars in VC funding, and multiple failures to gain mass-market success.
In this note, we include feedback from Pivot3 management and examine their steps and missteps over the last decade.
Pivot3 Statement
Pivot3 said that the layoffs were part of structural changes related to coronavirus:
This market disruption has caused many of our customers to delay their decisions and to pause projects while they evaluate their own situations. There is currently very little indication of how long this situation will last. We are committed to continuing support for our customers and partners, so this morning Pivot3 undertook some structural changes to ensure that we weather this situation, however long it lasts, and continue to support our customers. We believe that Pivot3 will emerge stronger for these changes, and fully intend to continue providing solutions of exceptional value for our customers through this market crisis and beyond
Mass *******
******** ******* **** **** **** *** layoffs **** ******* **% ** ****** employees.
****** **** **** *** ****** ** not ********, **** ** ** **** than **% *** ***** *** ******* an ******:
* ***’* **** * ******** ****** for *** ***** ***. *** ***** was ** **** **** ** ********** a ******* **** ** ****** ********** for *** ********* *** ** ******** to ******* ********.
** *** ** **** **** **% but ****** ********* ***** ******* **** percentage *** *** *** ***** **** clearly ******** ** *** **** ***** than **%.
****** *** ***+ *********, ******* **** 100+ ****** **** ***** *** ** the ******.
More **** ***********
***** *********** *** ** *** ******* for ***** *******, ********* ** ******* industry *******, ****** *** **** ****** challenges *** ***** **** ****.
Pivot3 ******* ** **********
* ****** ***, ****** *** *** video ************ ****** **** **** *** money *** *** ****** *** ******** storage *********, ***** ******* ~$*** ******* in ******* (*** *******).
***** ****** *** ******** ******* **** surveillance ** *** ***** *****, ** was ********* **** *********** *** ******* for **** ***** ***** ******** ***** their ******** *****-** *** ****** ********** and ******** ******** ********** ************ *** more ****** ******. **** **** *** strong **** ****** *** ** ***** solution's **** *** **********, *** ** 2013 ********* *** ***** **** ******* outside ** ************.
**** **** **** ** ***** $** million ** ******* ****** ** **** to **** ************* ** ******, *** ******* *** *****-********* ******, again *** * *********** ****** ** surveillance.
** ****, ** ***** ***** ******'* funding *** ********:
**** ****** ** ****** ********** ** justify / ****** ** *** ******** market. **** ***** * ******, ******* indicate ******'* ***** ************ ******* ** in *** *** **** ** ******* annually. ***, **** **** *** **** close ** ********** *** ******* ***** of **********. ********, ***** *** ***** surveillance ****** ** **** *** **** large, ** ***** ** **** ** ever **** ** **** ***** ********** level.
Poehler *** - ********* ********
****** *** *********** *********** ********* ******** during *** **** *-* *****. ** 2016 ** ******** **** * ********** and ******** ****** ************* *** *******.
** ******* ********* *******, ********* ***** *******'* **-*********, *** Dell ****** ******** *** ******* ** ***** ******* Officer. ** ******* **** *** ******* after ******* * **** *** ******* a ******* ****** *******.
Nail ** *** ******
**** *** **** **** ** *** final **** ** *** ****** *** Pivot3. ** **** ** *********** ** see ** ** *** ****** ****** yet *****.
Another *********** ***?
**** ********* ****!
* **** *** *** *** ***** with * ****** ********. *** ********** call **** **** **** ******* **** their ** *** ****** *******, *** that ***** **** * ******** **** - ****** *** ******** ** ** entity
** ******.
*** ********* **** **** **** *** got ***** *** ***** ** **** other ******** ***** ********** ******. *** "CEO" *** **** *** **** ******* the ****** **** *** **** "** you *** ******** ****, *** ** longer **** * ***". **** ***** paid ** * **** **** ******** that *** *** **, *** *** benefits. ***** *** ********* ********** ** get ******** **** ****** *** ****- be ********** ** *** ** **** actually ***.
** ******, ***** *** "***" ***** 75%- ********* *** ** *** *** channel ****** ******** *****- *** ********* staff *** **** ****. **** ******** the *** *** *** *** *** sales **********. ***** * ** ***** this ***** *** ***** * ********* difficult ********* ** *******, * **** think **** *** *** ** *** over ***** *****. **** *** *** tells *** **** **** *** ** to ** * ******* ******* ** the **** *** **** ** **** then **** **** $*** ** $****, you **** ***** ** ********* *****. The *** *** *** **** **** sold * **** ** ***** *** he **** *** **** *** **** as ****.
* *** ***** *** *** ** 6 ***** *** * ******* **** this *** ****** ***** ** ******. The ******** ** ***** *** *******- so **** ** **** *** ***** team *** ***** **** *********** *** asking ** ** ***** ******** *** revenue *******. ***** *** ** **** support *** * ******* *******; **** wanted ** **** ** **** **** it ****** * *****-**** **********.
* ****** ******* ******** ***** ** what * *** ***** *** * believe *** ***** ** ** *******. The ********* **** ****** (*** ** which *** ** ******** ** ********, where **** ****** *** *** ***) funded ****** ** *** ***** ** each **** ***** * ****** *** submitted ** **********. **** **** *** investors **** ******** ****** *** * months. *** ***** **** *** $** million ** **** (*** **** **** lowered) ***** ***** **** **** ***** to * ******** ** **** ****. I ******* **** *** ********* *** drawn * **** ** *** **** and **** "*** **** ****** ** we *** *** ****". * ***** the *****-** ****** ****** *********** **** was ****** ***** ** ****** ***-****, which *** *** ********* (*******) ******** that **** *** **** ****** ** yearly ******** *** ***** ********.
* *** ** ****** *** * weeks. * ****** **** *** **********, I *** ******** *** * ******** to ****** ****. * *** *** writing ** *** **** *** * left. *** ****** *******, ***** *********, was * **** ******* *******. **** decade **** ******* ***** ** *** feet ** *** ****** ** ******* leaders *** **********, *** ***** ***** stomach *** **** ** ****** * true ********* ******. * **** ***** for ** ****** ********** *** ******** for *** ********** **** *** **** to ** **** * *** ***** and **** ** *** ****** ** Pivot3.
* ***** *** ******* * **** from *** ********** ** * ******* that *** ********** $***** ** ********** with ******* *********** ** **** *** years ** ****** ********.
* ***** ***** ***** *****. **** should **** ******* *** **** ********** market ****** **** *** ** ** huge ****** ******* ***** **** ******* margins.
******'* ** ****** ********* *** **** **** ****** ** video ************ *****:
**** ******* **** **** *** ********** companies ** ** **** ********** ********* pick *******?
***** *** **** * ******* ** pr ********* **** ***** ** ******** companies, *******, ******* *** *** *** the ****** **** **** **** ** mind.
*** ****** ** **** *** ***** to ** **** **** ****** **** between **** **** ******** ***** **** to *** ** ********* **** ****, so ** * ****** *** ***** and ***** ** *****, *'** ******** using *******.
**, ****'* **** *** **, ** all. *** *** ******* *** ******** clients *** **** **** ****** **** Compass. **** ** ********* * **** very **** ***** ** *** ****** these ********* **** **** **** ** we **** ***-****** *********** ***** *** companies *** *** *** **** *******.
*******, ******, * ***** *** *** biggest, ********* ********* ** ***** ************ tend *** ** *** ******* ** / ********* *****.
**'* ***** **** *** ***** **** to **** **** **********. *** ********** employee ******** **** *** ***** ** just ***********. **** ** **, **, you're ****.
******* ******* **** ***** ****** **. He ** *** ****... ** **** he ***** *** ** *** * sales ******* *** ***** ***** ******* Panasonic ******* *** *****, *** *****'* actually ** ********. **** **** ******** took **** ***** ********* *********, ** ran **** **** *** ****** ***** they ****** *** ***.
******* ** ** * ******.
******* ******* **** ***** ****** **
* ***'* ***** **'* **** ** give ***** **** ****** ****. ****** has * ****** ** ******** ****** Rance **** ******* ** * **** ago. **** ****, *** ***** ** join * ******* ** ********* ** bad ***** **** ******?
***, ********* *********'* **** *********** ********** ****** *** *-** ****** this ****:
* **** *** *** *** *********, but * ***'* *** **** *'* surprised. * ***** ********** *** **** actually ****** ** ********. ******* *** sales **** **** ***** ********* ******** me ** * *** ** ****** high ****** ******* ***** *** "**********" from *** ******.
"*** ******'* **** *** - ***'* from ******."
* ***** *** * ***** * end ****, ***** ********, ** *** exist?
* ****** ** * **** ***** airport ******* **** ********* *****-**-***** ** Pivot3 *****. ** *****'* ****.
* **** **** ****... **** *** a ***** ****. *** **** ** sell * *** ****'* ****** **% higher **** *** ***********. ***** ***** estimated *** ****** *** *** ********** cost **** ******** ***, **** **** bad ******** *********, **** ********* ******** pedigree ****** **** ****** ******* ********. John ** *****, **** *** **** of ********** *** * **** ****. They ******* ** ****.. **'* **** to ** * ***** ** *** 17 *****. ***, * **** ***** for *** **** ****** ** ******.
* ***** *** * ***** * end ****, ***** ********, ** *** exist?
**** **** **** *** ********* *** overall **** ***. **** ***** ** not ********* **** *** **'* *** far *** ******.
* *** * ***** * *** user ***** ** ** **** ********. However, **** *** *** * ****** Storage ***** *** * ****** **** almost *** *******.
** *** ******** ********** ******* ****** for ***** ***** ********** **** ***** 150 - *** ****** ***********. *** sure ** ** ******** ******** **** did **** **********.
* ***** ** **** **** *** onto * *** ***.
*******, **** * ****** **** *#, I ***** *** * ***** ****** that *** *** *******, *******, ***. However, * *** ****** *** **** over.
*****, ** *** ***** *** ***** at ** **** **** * ****** were *** ***** ****** *** ***** all **** ***** ** **** *** company ***** **** **** ** ********* stability. **** ******** *** *** ******* of *** ******* ***** **** (*** of **** *** ***** ***** * or **** ****** ** ***** ****). My ******* ** *** *** ****** people- **** ******, *****, *****, *** Flood, *** *** ****** **** ******* in ** **** *****. * ***** that *** ******* **** **** ****** was ******* * ***** ****, *** Dan ***** **** ** ** *** a ***** ** ***** ***** ****** the ****** ******* *** ******. * mentioned **** *** ******** ****** *** pulled *** ** ******* (**%) ***** is ****** * *******. ***** **** been **** ** **** *** ***** tell ** **** *** ** ****** about *** ********* **** *** ***** as ******* ** *********** ** ****** in ************ ******** *** ******* ** not ** *** *** **** *** company **** **** ****** ** *** for * ***** ****** ******* *******, or ******** **** ** ******** ******* a ********* ********.
**** ****** *****. * **** **** good ******* *****.
**** ******* ******** ****** ** * ******* *******:
“** * ********* **** ****, *** responsible ******** ** ** **** **** strategic *** ********** ******* ** *** business ** ******** ********* *** ** ensure *** ********* ******* ** ******* our *********, *** ** **** ***** depend ** ** *** *******-******** ***********.
“** *** ********* *** **** ** our **** *** ******* ******* ** our **** *******. ** **** ********* all *** *********** ******* ** *** business ** **** ** *** ******** to ******, ****, ******* *** ******* customer *********. ** **** ********* ******** and ** ******* *******, ** ****** committed ** ****** ******** *** *********** support ** *** ********* *** ********.
“This ****** ****** *** ******* some uncharted waters for us all to navigate; we’re confident **** *** ******* **’** **** **** ***** ** ** ******* *** ***** *** ****** ******** ** *** ***** ****.” [emphasis side]
***, **'* ***********' ***** - *******. This ** *** * *** ***** either, ****** *** **** **** ***** talk **** **** *** **** *****.
******* **** *** ***, ** *** CRO. *** **** **** ******* ** mid-April. *** **** **** ******* **** the ***** ** ***% ****. ***** all, *** ****** ********* **** ****** out (******** **** ** ******* ** 2020) *** **** **** ** ****** of ***** ** *****, ** ***. Little **** ** ******* ********* *** stay ******* **** *** ****** *** your *********.
*** *** ***** *** *** **** must ** **** *********! **** ***** all ***** ******, ****** **** *** of *** ****** **** ****, *** have ********* * *** *********** ** come ****. *** ****** ** ****** to *** *** **** ******** *****. The ****** ** *** ******** **********. Good **** **** ****, * *****. Each ** *** ** ****** ******** yourself ** ***** ****** **** **** of ********* ******.
***** **** *** **** ******** **** you *** *** ** **** ** Athena.
**** ** ******'* **** *** *** in ***** ** ******** ***** * bankruptcy...which **** ***** ***** * *******, DOE ****** ********* ** ***** *** a (*****) **** ****** **** ******* stock *********.
*********, **** ******* *** ****** ****** the ****** *** ** *** ***** go **:
*********, ********* ****** *** **** ** paid-for ****** *** * ** ******* how **** **** ****** *** ******* of ***** *******.
* ** * ****** ******** **** Pivot3. * ***** ** ****** ************** in ** ******** ****. * *** terminated ***** ******* ** ******** ** Sales **********. ***'* ***** *** *** of ****.
** **** * **** ** ********. Firetide ****** **** ** ** **** when * ******** *****'* ****.
******, *******?
* ******* *** ******* ****** *** Intransa :)
******** ** *******,****** ******** ***** **** ***,******** **** **** ************
* ******* *** *** ********* ** the ***** ***** (****** *****). ** all **** *****, **** **** ********** memorable. *** * *** *** **** experience **** **** **** **** *********** (if *** ********** ***********).
****** ****.
*** ****** ****** *** **** **** judgement.