- Some enterprise tech companies — like cloud providers and makers of collaboration and video conferencing tools — have gotten a lift during the coronavirus crisis thanks to the shift to remote work.
- Other types of enterprise tech companies haven’t fared as well though and have been forced to dramatically slash costs.
- Here’s a list of tech companies that have begun cutting jobs, furloughing employees, or making deep cuts in their benefits.
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The coronavirus crisis is starting to take its toll on enterprise tech.
The sudden pivot to remote work was a boon to companies like Zoom and Slack, and the cloud providers led by Amazon, Microsoft and Google.
But other enterprise tech companies are starting to feel the pinch of the downturn, as corporate IT spending heads south and the industry grapples with growing uncertainty. IDC projected earlier this week that worldwide IT spending will drop 5.1% to $2.25 trillion in 2020 due to COVID-19.
While it previously seemed that enterprise tech companies may have been spared the carnage of their consumer-facing counterparts in tech or across other industries, recent announcements of layoffs, furloughs and employee benefits changes show that they’re just as susceptible.
Here are some of the companies that have begun laying off or furloughing employees, or making deep cuts to their benefits: