Thursday, February 9, 2017

Rackspace Slashes Jobs, Cuts 6 Percent Of Employees

San Antonio-based Rackspace said this week that it is cutting 6 percent of its workforce nationwide. CEO Taylor Rhodes said the cuts were in areas where its workforce "has grown more rapidly than our revenue." The cuts hit around 200 people at the company's headquarters. The cuts come only three months after the company was acquired by private equity investor Apollo Global Management. Rackspace said it hoped the employees it is cutting can "find new opportunities" in the communities where they live, and said it was working locally with groups like Tech Bloc in San Antonio to reach out to other tech employers and governments in cities where it does business, in order to help place its employees.