- ServiceNow CEO Bill McDermott had vowed that the tech giant would not resort to layoffs as the COVID crisis battered the tech industry earlier this year.
- Not only has ServiceNow kept that promise, but the tech giant has expanded its workforce by 20% to meet stronger demand due to the sudden shift to remote work during the COVID crisis.
- “Not only are we not doing layoffs, we’ve hired 20% more people,” he told Business Insider. “We’re a 20% bigger company. We’re adding jobs left, right and center.”
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ServiceNow CEO Bill McDermott vowed that the cloud software company would not resort to layoffs as the COVID crisis was upending the tech industry four months ago.
The tech giant, which has about 12,000 employees, not only kept that promise, it has even gone on a hiring binge as the crisis ended up boosting demand for the cloud platform that helps businesses automate their workflow and operations.
ServiceNow says the Silicon Valley company has added 1,500 full time employees, including about 300 tech interns, since the crisis began.
“I told you no layoffs,” McDermott told Business Insider. “Not only are we not doing layoffs, we’ve hired 20% more people. We’re a 20% bigger company. We’re adding jobs left, right and center.”
The coronavirus crisis led to a big spike in demand for cloud-based enterprise software applications — including ServiceNow — that businesses needed to adapt to the sudden shift to remote work.
“In March, there was the shock of, ‘What does it all mean?'” McDermott said. “Now, I think that it has become the normal operating environment albeit obviously a very abnormal situation.”
ServiceNow’s second-quarter results, which it reported last week, underlined its market momentum. The company beat Wall Street estimates as it recorded a 30% jump in subscription revenue.
In fact, McDermott said ServiceNow is expanding its workforce because it anticipates even stronger demand for its cloud services and tools in the next few years.
“You have to take the medium and long-term view when it comes to human capital,” he said. “We’re absolutely convinced that what we do now will be mission critical to what happens in 2021, 2022 and 2023.”
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