SurveyMonkey Parent Momentive Cuts 11% of Workforce
SurveyMonkey parent company Momentive has made 11% of its workforce redundant, as part of what it calls a restructuring plan to improve operating margins and improve efficiency.
San Mateo, California-based Momentive provides online subscription-based tools through which individuals can create surveys, collect responses and analyze survey results. The company also offers an Enterprise version, for companies wanting to gather, compare and share business-related feedback data.
Hillary Wilson, Senior Communications Manager at Momentive, confirmed to online publication TechCrunch that the plans include cutting headcount across business development, customer support, recruitment and sales. 'We are making this challenging change as part of a strategic shift as we streamline our operations and direct our resources in line with our top priorities', Wilson explained.
In an 8-K statement, Momentive described the move as a 'restructuring plan' which will incur costs from between $4m and $5m, including severance pay, employee benefits and related facilitation costs. The firm said the process, which affects its global workforce, could last until the first quarter or 2023 or later in some countries.
Web site: www.momentive.ai .