SurveyMonkey will lay off 100 sales staff in effort to revamp business product
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Cloud-based polling platform provider SurveyMonkey will lay off approximately 100 employees, or 13 percent of its staff, as the company works to revamp its products for businesses, according to a report from Re/code.
The layoffs cap off a turbulent period for the Palo Alto-based company. Last May, then-CEO David Goldberg died unexpectedly, leading SurveyMonkey on an extensive, two-month search for a successor.
Former HP executive Bill Veghte was eventually chosen for the job. His appointment was met with enthusiasm, as Veghte was not only highly regarded as an executive, he also was a close friend to Goldberg.
But Veghte's tenure would be short lived. In January Veghte stepped down from the CEO role to take a position on SurveyMonkey's board, alongside Goldberg's widow -- and Facebook COO -- Sheryl Sandberg. Veghte cited strategic differences with investors as the reason behind the move.
Veghte was replaced with former GoPro CEO, and SurveyMonkey chairman, Zander Laurie.
As for the layoffs, Re/code says they were made mostly within the sales team working on SurveyMonkey for Business, a product that's failed to resonate with users. Last week SurveyMonkey hired two executives -- Steve Norall and Brad O'Neill -- to head up sales and product development within the business group.
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