IT Layoffs: Quantum Computing Startup Rigetti Cuts 28 Percent Of Employees

1 month ago CRN

Cloud News IT Layoffs: Quantum Computing Startup Rigetti Cuts 28 Percent Of Employees Mark Haranas

Add quantum computing startup Rigetti Computing to the ever-growing list of technology companies laying off a large percentage of its employees.

 ARTICLE TITLE HERE       Share this

IT layoffs are continuing in 2023 regardless of whether companies are startups or some of the largest tech companies in the world. The latest technology company to recently unveil large layoffs is quantum computing startup Rigetti Computing, which will terminate 28 percent of its employees.

The Berkeley, Calif.-based startup had approximately 200 employees as of December, with offices in the U.S., U.K. and Australia.

A 28 percent reduction in overall staff means more than 50 employees will be laid off.

“We believe these actions put Rigetti in a better position to deliver on the promise of quantum computing and are aligned with the Company’s refocus on nearer-term priorities,” said Rigetti CEO Subodh Kulkarni, who took over the company in 2022, in a statement.

[Related: Dell’s 6,650 Layoffs: 5 Big Changes, Cuts, Michael Dell Things To Know]

In addition to announcing it will lay off 28 percent of employees, Rigetti also unveiled it appointed Jeffrey Bertelsen as its new chief financial officer, replacing Brian Sereda, while also promoting David Rivas as its new chief technology officer, replacing Mike Harburn.

IT Layoffs In February 2023

There have been so many IT layoffs in 2023 that you don’t even need to go back to 2022 to see how painful the technology industry has been regarding letting go of hundreds, if not thousands, of employees in one massive layoff round.

For example, today, Twilio said it was eliminating 17 percent of its employee headcount as well as closing several offices.

Last week, $99 billion IT giant Dell Technologies announced it will be laying off 6,650 employees in one of the largest layoffs rounds in the company’s nearly 40-year history.

Other IT layoffs in the industry in February include Secureworks, a cybersecurity specialist that plans to lay off hundreds of employees. Additionally, Microsoft’s open-source software company, GitHub, unveiled plans to terminated up to 10 percent of its staff, amounting to hundreds of employees. DevOps specialist GitLab says it will lay off about 7 percent of employees this month, which would be more than 100 workers.

These tech layoffs don’t even include January’s massive layoff rounds which included 10,000 layoffs at Microsoft, and Google laying off 12,000 employees.

Why Rigetti Is Laying Off Staff

Rigetti Computing is an integrated systems company that has operated quantum computers over the cloud since 2017, serving enterprises, governments, and research clients via its Rigetti Quantum Cloud Services platform.

The company’s quantum infrastructure provides integration with public and private clouds for practical quantum computing. Rigetti said it has developed the industry’s “first multi-chip quantum processor for scalable quantum computing” systems.

After hiring Kulkarni as CEO in 2022, the company reviewed key strategic priorities for the near term.

The CEO said his company’s current goals are to: launch its Ankaa-1 84-qubit system in first quarter 2023 to deliver denser qubit spacing and tunable couplers to boost performance compared to Rigetti’s current 80-qubit Aspen-M system; prioritize increasing the performance of the Ankaa-1 84-qubit system once launched; and to achieve narrow quantum advantage—the point at which a quantum computer is able to solve a practical relevant problem significantly better, faster, or cheaper than a current classical solution.

Focusing on these “nearer-term priorities” are the reason behind Rigetti’s layoffs, he said.

Learn More:

Cloud Platforms Mark Haranas

Mark Haranas is an assistant news editor and longtime journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renown CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be reached at [email protected]

Continue reading...

Read On "CRN"

More News On "CRN"
23 days ago - Wayne Shorter, jazz legend and N.J. native, dead at 89 23 days ago - What to make of Grant Williams’ surprising DNP in Celtics-Cavs matchup 23 days ago - Grading the Canucks’ Trade for Filip Hronek 25 days ago - McGhee's dramatic buzzer beater lifts Dragons into NSIC championship game 25 days ago - Buster Posey has heartfelt Scott Cousins message 12 years after collision 25 days ago - Ravi Shastri Settles Shubman Gill vs KL Rahul Debate With A Blunt Verdict 25 days ago - AMA vs KOT Dream11 Prediction, Fantasy Cricket Tips, Dream11 Team, Playing XI, Pitch Report, Injury Update- Navi Mumbai Premier League T20, Match 2 25 days ago - Murdoch admits some Fox News hosts 'endorsed' false election fraud claims 25 days ago - LaMelo Ball breaks ankle, latest setback in rough season 25 days ago - Ball fractures ankle in Hornets’ 117-106 win over Pistons 25 days ago - Avalanche examining trade market — The Fourth Period 25 days ago - Knicks deliver statement with stifling win over NBA-best Celtics 25 days ago - Who are Jimmy and Dee Haslam, reported new Milwaukee Bucks co-owners? 25 days ago - Celtics vs. Knicks takeaways: C's go ice-cold from 3 in frustrating loss 25 days ago - UNC Basketball: Photos from win at Florida State 25 days ago - Butler's acrobatic layup, 23 points lead Heat past 76ers :: 25 days ago - NBA roundup: LaMelo Ball breaks ankle in Charlotte’s win over Detroit 25 days ago - Murdoch says some Fox hosts ‘endorsed’ false election claims 25 days ago - Drunk flyers getting unruly led to tighter rules: AI CEO 25 days ago - UNC Men’s Basketball Holds Off Florida State Rally, Wins Final Road Game 25 days ago - UCLA Set to Host LMU, Michigan in Midweek Battles 25 days ago - Minus Timo Meier, Sharks host new-look Canadiens 25 days ago - Elon Musk Reclaims Top Spot on Billionaires List 25 days ago - No. 9 UConn still standing ... barely ... as sole regular-season champion of Big East 25 days ago - Breaking new ground, video game engages with Holocaust 25 days ago - John Oliver Goes After SF-Based OpenAI and Its ChatGPT Product: ‘The George Santos of Technology’ 25 days ago - HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Catalent (CTLT) Investors with Substantial Losses to Contact Firm's Attorneys, Securities Fraud Class Action Filed - Catalent (NYSE:CTLT) 25 days ago - Florida State fights hard on Senior Night, but this time the comeback bid falls short 25 days ago - How do you talk to a whole country about COVID-19? Use a GIF. 25 days ago - 1 killed as tornadoes rip through Oklahoma, California braces for more snow 25 days ago - Austin Police Department staffing crisis: 77 officers could retire by end of March as vacancies pile up 25 days ago - Alec Baldwin sued by three Rust crew members who suffer from anxiety PTSD and have blast injuries 25 days ago - Assessment Covid-19 leaked from Chinese lab is a minority view within US intel community, sources say 25 days ago - Quinta Brunson, Kevin Jay Anik’s Relationship Timeline 25 days ago - Sydney World Pride: Here’s what you need to know ahead of Harbour Bridge closure on March 5. 25 days ago - Reddit Has a Must Read Thread About The Worst Things People Have Seen at Disney World 25 days ago - Courteney Cox snubbed by ‘Friends’ at Walk of Fame star ceremony? 25 days ago - No. 1 CSI draws Snow College in Region 18 opener: 'It'll be a hard game' 25 days ago - Rochester organization working to prevent adverse childhood experiences 25 days ago - ‘Friends’ star Courteney Cox didn’t think Hollywood success was ‘possibility’ growing up in Alabama 25 days ago - Winds shred Southern Plains; California set to get more snow 25 days ago - Robbins: Zelenskyy & Navalny heroes for standing up to Putin 25 days ago - An Arizona driver was charged after plowing into cyclists, killing 2 and injuring 17 25 days ago - DeSantis clemency only option for ex-death row inmate after Supreme Court denial 25 days ago - Rupert Murdoch admits some Fox News hosts 'endorsed' false election fraud claims 25 days ago - Nolan Gould: What Happened To The Modern Family Star? 25 days ago - Chip 4 Alliance: Senior officials finally meet to discuss semiconductor supply chain 25 days ago - Zero-calorie sweetener linked to heart attack and stroke, study finds 25 days ago - ‘American Idol’ Alum Adam Lambert Made a Lana Del Rey Song Sound Like Led Zeppelin on His New Album 25 days ago - Student Association meets with Micron to potentially develop a partnership 25 days ago - Hornets vs Pistons: How to Watch Live Stream, TV Channel, NBA Start Time 25 days ago - ‘Hoping for a miracle’: Fundraiser for family of Angus man seriously injured at Collingwood-area work site raises more than $31K 25 days ago - Disney World’s Self-Governing District Now Under State Control 25 days ago - JD Vance, Sherrod Brown demand EPA, CDC start health screenings in East Palestine after train derailment 25 days ago - UConn women's basketball guard Nika Mühl surpasses Sue Bird's single-season assist record 25 days ago - Messi, Putellas headline FIFA Best award winners as Kerr makes World XI 25 days ago - Florida Governor Strips Disney of Special District Control 25 days ago - DeSantis signs bill that gives him more control of Disney’s special district 25 days ago - Chicago Bulls vs. Toronto Raptors – 2/28/23 Free Pick & NBA Betting Prediction 25 days ago - Maple Leafs answer Lightning by making trade with Blackhawks
free geoip