Sitecore Makes Job Cuts

Global CEM Software firm Sitecore has laid off around 70 employees, c.5% of its workforce, according to reports.

The company, whose Experience Platform manages content, supplies contextual intelligence, and automates ad targeting, has previously partnered with WPP and with data-driven CRM firm Merkle. Now media site www.cmswire.com quotes 'multiple sources including one Sitecore employee' said that after rapid growth in recent years the company failed to meet fourth-quarter financial targets, with 'expenses were outpacing income', and this prompted the cuts. A Sitecore spokesperson who spoke to the publication would confirm only that it recently 'realigned resources in a few areas of [its] business to better map the right mix of investments to [its] strategic growth areas' and stressed that it was 'business as usual'.

CMSWire quotes analyst speculation that the company may be readying for an acquisition - similar moves presaged the buying of Marketo in May 2016 by Vista Equity Partners, and of Episerver by Insight Venture Partners in September 2018. Sitecore is currently owned (since April 2016) by Swedish private equity investor EQT.

Web site: www.sitecore.net .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.