SevOne had company-wide layoffs but is staying quiet on details - Delaware


Mar. 2, 2016 12:07 pm

SevOne had company-wide layoffs but is staying quiet on details

This time last year, the then-Newark based network monitoring company announced it was going to add 200 jobs to its workforce. No word on whether that's still the case.

At the ribbon cutting of SevOne's Philadelphia office, March 2014.

(Photo courtesy of SevOne)

SevOne has laid off some of its employees, but it’s not saying how many or from which departments or offices.

In an email, SevOne spokesperson Tom Parnell said the company isn’t currently releasing any employee statistics, but he said the layoffs affected less than 10 percent of the workforce, which, according to our numbers, could mean about 50 people.

Just last March, SevOne announced it was planning to add 200 jobs, mostly in Delaware, and it was seeking engineers, software developers and pre- and post-sales support staff.

Parnell said the layoffs were company-wide and characterized the action as a “reprioritization” for growth opportunities. “The changes we made will allow us to intensify our efforts on our core business and redeploy resources to our most urgent priorities — all of which will enable us to demonstrate leadership in the market,” the company said in a statement. Parnell noted that laid-off employees received a severance package.

The network monitoring company was founded in 2005 by University of Delaware graduates Vess and Tanya Bakalov, and until recently, was based in Newark.

Last November was a big month for the company: Just after it won Delaware Innovation Week’s Tech Business of the Year Award, SevOne moved its headquarters to Boston. Around that same time, it also opened a new 50,000-square-foot, two-floor facility at the University of Delaware STAR Campus in Newark. At that point, the company had more than 500 employees, and Delaware Business Now reported more than 230 employees were working out of Newark. A statement from the governor’s office from February 2015 said the move to the STAR Campus would create an addition of 150 jobs.

Obviously, something has changed. But without details of the nature of the layoffs, it’s unclear, at this point, how they will affect Delaware.


Companies: SevOne
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