SageCircle has received credible intelligence from AR professionals on both sides of the Atlantic that Forrester Research initiated a job action resulting in analyst lay offs. We will continue to provide updates as we learn new information.
- Update – 2/18/09 6:53 am PT – Initial post. Sent request for confirmation to Forrester’s press office
- Update – 2/19/09 7:12 am PT – Two analysts added to list
These 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 lag what happens in the US. On the other hand, these layoffs could be a start of a round two because management has determined even after a few days that the original layoffs were insufficient. While Forrester has over $240m in cash and marketable securities (see Forrester Research Q4 and FY08 earnings – 2008 revenues up, 2009 guidance down) and can obviously weather even a severe recession, that does not mean it should not manage it business more tightly or ignore Wall Street (FORR is down approximately 13% since the earnings announcement).
To be added if sent