Forrester experiences analyst layoffs

SageCircle has received credible intelligence that Forrester Research  initiated a job action resulting in analyst lay offs. We will continue to provide updates as we learn new information.

  • Update – 2/9/09 12:15 pm PT – Initial post. Sent request for confirmation to Forrester’s press office
  • Update – 2/9/09 12:30 pm PT – Context
  • Update – 2/9/09 12:45 pm PT – Details: 111 staff laidoff, 15% of workforce Correction: This number is from the 2001 layoff.
  • Update – 2/9/09 1:10 pm PT – Added analyst to list (see below)
  • Update – 2/9/09 1:52 pm PT — Added analyst to list
  • Update – 2/9/09 1:47 pm PT — Added analyst to list
  • Update – 2/0/09 3:12 pm PT — Added analyst to list
  • Update – 2/9/09 3:45 pm PT — Added Forrester’s official statement
  • Update – 2/9/09 4:02 pm PT — Added two analysts to list
  • Update – 2/9/09 4:31 pm PT — added analyst to list
  • Update – 2/9/09 5:40 pm PT — added two analysts to list
  • Update – 2/9/09 5:55 am PT — Forrester files an SEC form 8-K with the official statement
  • Update – 2/10/10 6:43 am PT — a little perspective on the layoffs
  • Update – 2/10/09 8:40 am PT — Removed an analyst from the list

On Wednesday, February 11th at 8 am PT, Forrester is having its Q4 and FY08 earnings call (see Forrester Research, Inc. Q4 and FY08 earnings call is scheduled – Acquisitions? Layoffs? Something out the ordinary?). As we mentioned in the post it would not be unusual for Forrester to announce job actions or acquisitions close to the day of the earnings call. Something else to remember that layoffs do not mean that an acquisition is not in the works. Forrester could be trimming costs in order to absorb the costs associated with an acquisition.

Added 2/10/09 — While the layoffs feel like 100% to the individuals who were directly impacted, within the context of Forrester’s overall research team the percentage was small. In its 2008 10Q, Forrester indicated that it had 410 research related employees. So far, we have identified eight analysts and researchers or 2% of the team. While this layoffs impacts clients who value those analysts’ advice and insights and the vendors who had invested in educating those analysts, these layoffs do not signal a decrease in Forrester’s influence or viability.

SageCircle has announced a SageCircle Special Webinar: Impact of the Recession on the Analysts and AR – Time for Ruthless Action. In this 90-minute webinar we will look at the last recession in comparison to this recession, the impact of this recession on the analyst ecosystem and what steps analyst relations (AR) programs need to take to ensure that their companies continue to work effectively with the IT and telecommunications analysts.

Official Statement

Sent by Karyl Levinson, Vice President, Corporate Communications

Forrester Announces Workforce Reduction

 Cambridge, Mass., February 9, 2009 . . .

Forrester Research, Inc. (Nasdaq: FORR) today announced a reduction in force of approximately 50 jobs, or an estimated five percent of its workforce, across various functions and geographies worldwide. This positions the company to compete better in the current economic climate. The company anticipates that it will incur pre-tax expenses of approximately $2.5 to $3 million dollars in the first quarter of 2009, related principally to cash severance and related benefits costs. The company also is evaluating associated facilities-related costs.

“We are grateful for the contributions of all of our employees over the past year,” said George F. Colony, Forrester’s chairman of the board and chief executive officer. “We have made this difficult decision in response to challenging global economic conditions. Forrester has lived through tough economic times before. We are confident that with our role-based strategy and our current offerings, we are well-poised to successfully deliver what our clients need today and in the long term.”

SageCircle Webinar - Ranking and Tiering Your Analyst ListClients will continue to receive uninterrupted service from Forrester’s role-based analysts and research teams. Forrester’s research population is the highest it has been in the company’s 25-year history. After the workforce reduction, Forrester’s research headcount is 14 percent above what it was in February 2008.

Analyst List

  • Adrian, Merv
  • Brett, Charles
  • Fulton, Larry
  • Marston, Pete
  • Pierce, Lisa
  • Tiazkun, Scott
  • Townsend, Chris
  • Yehuda, Gil
  • Webber, Alan

SageCircle Clients

This is becoming an all-too-common post these days with weekly announcements by one analyst firm or another. A SageFlash has been sent to clients with recommendations on next steps AR should do. It is further recommended that you set up an inquiry to discuss how to apply these steps to your particular situation. We can do individual calls as well as a teleconference for your entire team.
Non-clients can quickly and easily sign up for a two-hour Advisory Hour Block. Please give SageCircle a call at 503-636-1500 if you want to discuss the implications of this layoff.
 
 
 
 
 
 
 
 
 
 
 

 

 

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9 Responses

  1. I’m sad to see Gil go; I always found him insightful and thoughtful.

  2. […] Forrester reported to have analyst layoffs « SageCircle Blog […]

  3. I’m sad to see Gil go, too. And best wishes to the rest.

  4. […] Forrester experiences analyst layoffs SageCircle has received credible intelligence that Forrester Research  initiated a job action resulting in […] […]

  5. I wanted to thank Chris, Sam, Carter, and the many others who offered their kind words to me and my very talented colleagues. I’m glad we have made such a positive impression, and I know that we’ll continue to do so from a new perch sometime soon.

    Good analysts gather a trail of very satisfied clients who attest to the value we provide. We are trained to provide insight and influence that impacts decisions you make every day – to improve your bottom line this month, this quarter, and this year.

  6. […] layoffs could simply be a continuation of the layoffs that we identified on February 9th (see Forrester experiences analyst layoffs). Because European countries have different labor laws than the US, job actions there frequently […]

  7. […] on February 28, 2009 by sagecircle Background:  This text originally came in as a comment to Forrester experiences analyst layoffs. Because of the last line, I did not approve the comment leaving it as a private communication to […]

  8. Geoffrey Turner was also let go the end of December 2008

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