Qualtrics, a Utah-based business software company, announced plans on Wednesday, October 4, 2023 to eliminate approximately 780 roles across the company.
Qualtrics, a Utah-based business software company, announced plans on Wednesday, October 4, 2023 to eliminate approximately 780 roles across the company. , the leader of the Utah Valley Chamber of Commerce said he expects other tech companies could follow suit.
“It would not surprise me, to be honest,” said Curtis Blair, the Chamber’s president and CEO, when asked if more tech layoffs could be coming. Qualtrics announced Wednesday it will lay off roughly 15 percent of its workforce. It's unclear how many of those layoffs will impact employees in Utah compared to other locations, butBlair said the news about Qualtrics is “in alignment, I think, with some of the other things that are happening in the tech landscape right now.” Phil Dean, economist at the Kem C. Gardner Policy Institute, said higher interest rates have hurt tech companies that are backed by venture capital. But so far, he said, the market has largely absorbed those laid off.expressed sympathy“As you look at the data, it just doesn’t show this major decline in tech employment in the state even with the layoffs that we’ve heard,” Dean said.around Thanksgiving and Christmas. Blair praised the CEO of Qualtrics, Zig Serafin, for not doing that this year. “I’m sure this was not an easy decision for him,” Blair said, “and I applaud him for doing it at the beginning of the fourth quarter.”“It’ll give room for other companies to say, all right, let’s revisit this ourselves, is it time? And if we do it, let’s do it in a matter of weeks, not wait until the end of the year,” Blair said. For those who are being laid off, Qualtrics is promising severance pay, benefits, and help finding new jobs. The company was founded in 2002 by Ryan Smith,
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