As many of you have heard, O'Reilly laid off 30 employees yesterday. The layoffs, which were spread across the company, were part of an overall reorganization to create more focus on some new opportunities, as well as a response to today's very tough economic climate.
We're sorry to lose good employees, we wish them the very best, and we expect to encounter them down the road as they move to interesting new endeavors. O'Reilly employees are a bright, adventurous, hardworking lot, as the companies who next employ them will discover. If you're looking for stellar people, send an information about your openings to email@example.com, and we'll let you know if we can refer someone.
Some context about the reorganization--in 2006, we split our publishing group into four separate divisions with the idea that each would focus on their market opportunity across not just books but also events and online publishing. What we found in practice was that the gravitational attraction of books was too great, and that we weren't moving fast enough on the other fronts. While we were outperforming on books (our market share went up several percentage points in the past couple of years), we didn't have the focus we wanted on some new opportunities. Meanwhile, we'd created some significant redundancies in the organization.
So we've reorganized again, putting the book groups back together. We've also created a new division focused specifically on online and in-person learning. And we're going after some entirely new business areas that will require us to hire staff with new skills.
We anticipate that the downturn will last a good while. But tough times also present fresh possibilities. We believe that, with the changes we've made this week, we're in the right place to act on the opportunities that are coming over the horizon.