3. Ash Kulkarni, Elastic

Elastic is laying off 13% of its workforce, or nearly 390 workers globally, citing decreased customer spending.

As of April 30, the security, observability and search vendor had nearly 3,000 employees in more than 40 countries globally. In addition to the layoffs, Elastic is reducing costs in other areas, including optimizing how it uses office space.

Elastic CEO Ash Kulkarni made waves when he posted a blog detailing the layoffs.

“We are fortunate that security, observability and search are mission-critical to our customers,” he said. “However, it has become clear that the global macroeconomic environment is forcing our customers to tighten budgets and review investments more closely. This is especially true in certain segments of the market like small and medium businesses where the current appetite to spend in uncertain times is limited.”

Elastic will focus on those areas of the business that are most critical to its future and finding more efficient ways to service some parts of its business, Kulkarni said.

Learn here what the next two years look like for Elastic.