"New Relic Inc. today disclosed plans to lay off 7% of its workforce, or about 160 employees, as part of an effort to adopt a new business model that emphasizes selling software priced according to customer usage. Publicly traded New Relic provides tools for monitoring the health of information technology systems. Enterprises use its software to find and troubleshoot technical issues in cloud environments, websites and a variety of other IT assets. Last year, as part of a push to provide better differentiation of its value proposition in the increasingly competitive monitoring market, New Relic announced an overhaul of its product pricing. The company until that point sold its software through traditional subscription contracts. Under the new pricing model, New Relic bills organizations based on a combination of what product version they purchase, how many employees use it and how much IT data they analyze."
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The Layoff List was created in 2019 and is free for the community. Tips reported are left anonymous unless they explicitly ask to be included as a source. We verify a majority of tips and include independent sources, but for tips that we are unable to verify we separately categorize them as unverified reports to avoid misrepresentations.