Wall Street brokerage firm Salomon Smith Barney, part of Citigroup, laid off its three storage analysts today in an effort to cut costs, industry sources tell Byte and Switch.
Salomon is expected to reassign its coverage of this sector to other analysts, insiders say.
Citigroup had no specific comment on the elimination of its storage research team but issued the following statement: "Given the market realities, we are continuing to make targeted reductions throughout the organization."
A source familiar with Salomon's plans says, "I'm sure there will be more cost-cutting as they reorganize the research department as a whole." This source, however, was unable to provide more details on this reorganization.
Clint Vaughan, formerly Salomon's senior analyst for storage and a major name in storage circles, was marched out of the building this morning, along with supporting analyst Brian Hertzog and associate Pei Hung. "We had an idea it was coming... but it was still a shock," says one of the analysts, who did not want to be quoted by name. "Storage wasn't a big focus at Salomon."
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
