MiniTechBubble 2.0, a.k.a. "global economic instability" reared it's ugly head in Portland this week at Jive Software, maker of collaboration and social software for the enterprise. TechCrunch originally headlined that they were laying off "1/3 of staff", but Jive CMO Sam Lawrence rebutted that the cuts were "no where near as dramatic" as was reported, but didn't offer a number. Lawrence later talks to The Portland Business Journal, saying that the cuts are a response to market conditions, and that the company has positive growth and cash flow. Further reporting on Silicon Florist.
Layoffs are always unfortunate news, but corrections are better than collapse. On TechCrunch, Mike Arrington comments:
Those of us who went through the last downturn will remember this: the first companies to let people go are often the ones who survive.