SevOne layoffs: "This was a company-wide activity and not limited to a specific department or office"

Tom Paine

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The Wilmington News Journal reported that SevOne was cutting its rapidly growing workforce by less than 10%.

The News Journal cited a source as saying the cuts involved around two dozen employees. SevOne employed 525 as of late 2015, the publication said.

The company issued a statement, but the reasons aren't clear. And it seems contrary to the expectations stated by SevOne management until recently.

Update 3/1: This statement by SevOne in response to my email inquiry perhaps says a little more than I've seen:


"The reprioritization impacted less than 10% of the SevOne workforce. This was a company-wide activity and not limited to a specific department or office. SevOne will continue to hire and expect to have to internal growth in headcount throughout 2016."

SevOne is backed by about $200 million in venture capital led by Bain Capital Ventures. CEO Jack Sweeny said late last year that the company, which officially moved its headquarters from Delaware to Boston in the Fall, anticipated 2015 revenue of over $100 million. It said at the time it expected to hire 200 more employees in 2016.