RALEIGH, N.C. (WTVD) — Raleigh-based tech firm Pendo is the latest company in the Triangle to announce layoffs, marking a recent shift in shakeups in the industry.
The company, whose headquarters are on Hillsborough Street in downtown Raleigh, tells ABC11 that 90 roles have been affected as part of a larger restructuring of the company.
“This is not any reflection of the strength of our business. We have the biggest opportunity in Pendo history ahead of us. We are setting ourselves up to move at a faster speed to capitalize on it,” said CEO Todd Olson in a statement. “We’ve been in a process of ‘refounding’ Pendo over the past six months as the technology landscape has changed dramatically. We had many of the largest companies in the world here, and they consider Pendo mission-critical infrastructure as they build agents, build with agents, and change how they work with AI. These operational changes are necessary to help us move faster and meet the needs of these companies as they transform.”
The news comes as two weeks ago, Cary-based gaming behemoth Epic Games announced more than 200 people in its local office would be laid off.
Pendo said of its 90 layoffs, 30 people are based out of Raleigh. The layoffs represent ten percent of the company’s workforce.
“I think the general consensus among economists right now is that AI likely will have a net negative impact on employment, particularly in areas that we thought were safe for many any unemployment, particularly the tech sector,” said North Carolina State economic professor Michael Walden. “I don’t think it’s a a surprise that we’re seeing some the appearance of some adverse impacts already on the tech sector.”
Walden encourages people in the tech sector and other potentially AI-vulnerable fields to stay prepared and to position themselves as best as they can. “You need to be proactive in trying to convince the bosses that you are valuable and need to be kept alive.”
Pendo has yet to announce how much money the layoffs will save the company.
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