Persistent data storage supplier Copan is downsizing with staff layoffs, unpaid leave and staff paycuts. The startup company's board heeded the Sequoia Capital recession slide deck and prompted CEO Mark Ward to revise his plans for the company, whose main product is the Revolution MAID array with up to 75 per cent of its drives …
A pragmatic and well-judged management strategy in difficult times for a young company. Good luck to them.
Compare with the losers I used to work for, who terminated the entire design team behind a highly profitable and very fast growing product line. The engineer-phobic CEO didn't bother to conceal how much he enjoyed it.
The management focused instead on acquiring some buzzword-heavy technology, but that still hasn't yielded results despite the company being bet on it. They haven't had a profitable quarter for two years and now there's the recession. Oh dear.
Agree that the company had a nice idea, but now that the 800lb gorillas such as EMC are including SATA spin down (Clariion now has this function, I believe), now Copan is forced into being a one product company selling a feature as a product.
That's going to be tough to expand from here onwards.