Layoffs at N-able came 'out of nowhere'

MORRISVILLE – Another global company with a huge presence in the Triangle has cut a number of jobs.

N-able, a publicly-traded software company, has elected to reduce its workforce by either eliminating or restructuring certain positions.

The firm’s president and CEO John Pagliuca told WRAL TechWire that the company’s leadership “felt that it was imperative that we are proactive and ensure we can successfully navigate this challenging macroeconomic environment.”

Lenovo also recently cut jobs, including some at its U.S. headquarters in the Triangle.

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What’s happening

Pagliuca did not confirm the total number of layoffs made by the company, but a spokesperson for N-able told WRAL TechWire that the Worker Adjustment and Retraining Notification Act (WARN) did not apply.

Under the WARN Act, employers with 100 or more employees are required to provide “at least 60 calendar days advance written notice of a plant closing and mass layoff affecting 50 or more employees at a single site of employment,” according to the U.S. Department of Labor.

Pagliuca said N-able leadership was evaluating all roles and responsibilities.

“This action took place across the company, and was not focused on a particular discipline, business or location, with a small number of employees impacted in RTP and in other locations,” he said.

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‘Out of nowhere’

Still, the layoffs were a surprise.

“All of this kind of came out of nowhere,” an employee who was laid off but asked not to be identified told WRAL TechWire.

That former employee told WRAL TechWire that the company, both internally and externally, was promoting a strong financial result and was regularly posting content about seeking to hire additional workers.

“We knew there would be some changes in what people would be responsible for,” said the former employee, “but didn’t know layoffs were possible.”

All that changed last week when those affected by the cuts were told that the layoffs were effective immediately.

“From what I understand, it’s been a lot of people with the company who have now been laid off, unexpectedly,” said the former employee.

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More layoffs coming?

And those who remain employed may now be wondering whether they’re next.

“We just got an org email that they made cuts across the business,” according to a text message shared with WRAL TechWire that was written by an employee whose job was not eliminated.

Those job cuts are coming even as the company continues to publicly post job openings, including on Instagram and LinkedIn.

The publicly-traded software company, which spun out of SolarWinds in 2021, said in 2021 that it planned to expand in the Triangle, adding some 400 jobs to the region.

On Friday Pagliuca said, “We believe that this focused action best positions our business and teams for future growth.”

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Who’s impacted by N-able layoffs

According to one of those who was laid off, the elimination of jobs came right as the company entered a blackout period with regard to its stock purchase program.

Current workers cannot sell any of their existing stock shares in the company until the blackout period ends.

“We’re going to be the ones taking the financial hit, if the stock price were to go down,” said the former employee who spoke with WRAL TechWire.

And, the source noted, the cut also comes right before the winter holidays.

“Employees don’t feel valued,” a source told WRAL TechWire. “They talk about how we’re like a family, but I have family members that I don’t even talk to that I don’t treat this way.”