A Message from Snyk CEO Peter McKay
Blog post from Snyk
Snyk CEO Peter McKay announced a restructuring that will eliminate 198 roles, or 14% of the company’s global workforce, amid economic headwinds and a shift toward balancing rapid growth with profitability and a goal of becoming free-cash-flow positive by 2024. Although Snyk reports continued strong growth and more than 2,300 customers, it is reorganizing its go-to-market operations around enterprise customers, realigning research and development toward developer adoption, enterprise and security users, and expanded platform capabilities, while maintaining more efficient SMB engagement through inside sales, digital channels, marketplaces, and partners. The company is also reducing spending on real estate, IT and subscription services, and business travel, while leadership changes include the departures of Aner Mazur and Karyn Smith and the Legal Team moving under Ken MacAskill. Departing employees will receive talent acquisition support, a private LinkedIn group, outplacement services, employee assistance resources, and career conversations, while remaining staff will receive further details during a company update.
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