StorageNetworks has fallen far -- and fast. The latest round of layoffs, which will leave the Waltham, Mass.-based company with 110 employees, is part of a dramatic vanishing act over the last 18 months. At its peak, in mid-2001, StorageNetworks had a headcount of around 670 (see StorageNetworks Continues to Shrivel).
As a result of the layoffs, StorageNetworks says it will scrap its storage resource management (SRM) software and concentrate on its partnership with Electronic Data Systems Corp. (EDS), which is using StorageNetworks' SAN management platform to manage its internal data center operations (see EDS Selects StorageNetworks).
"Because of the current economic climate and the immaturity of the storage resource management (SRM) software market, we have decided to focus our energies on the excellent opportunity we have to work with our partner EDS in further enhancing our storage management software products," Flanagan said in a company statement.
StorageNetworks will cut back its sales and marketing organizations, as well as its "non-EDS and non-SRM product development efforts."
After all this, StorageNetworks still has the chutzpah to refer to itself as "a leading provider of storage management software and services." True? We'll see what's left of the company in another few months.
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