Data Analytic Clients Get
‘Centered,’ Going Virtual
Alteryx Inc. (NYSE: AYX) has temporarily closed offices globally, with employees working from home during the coronavirus pandemic—co-founder and Chief Executive Dean Stoecker and the rest of the C-suite included.
An Alteryx spokesperson told the Business Journal no one has been laid off or furloughed because of the crisis.
The data analytics software maker is one of the higher-flying OC companies in recent years; still, its shares are down as much as 47% since mid-February, when markets began to crash, to a $5.7 billion market cap.
Alteryx is offering current customers a “virtual solution center” to connect with staff in real-time. It is giving through an ongoing Alteryx for Good program and other philanthropy.
The company is planning to move corporate headquarters from the Park Place office complex in Irvine to a site in the city’s Spectrum Terrace development later this year.
There’s no official word on whether the pandemic will slow the move.
—Kevin Costelloe
Demand for Chips Disrupted by Outbreak
Irvine-based chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) said March 4 it was cutting its revenue and earnings outlook due to the pandemic, and insiders report most OC employees are working from home.
Chief Executive Liam Griffin remained generally upbeat, saying the crisis “has caused no significant disruption within Skyworks’ manufacturing operations to date” but that demand for its chips had been “disrupted by global supply chain” problems.
More than half of Skyworks’ revenue last year came from selling chips to Apple Inc., which has warned of negative impact on results due to the coronavirus outbreak.
Three weeks later, Griffin interviewed from his home by CNBC’s Jim Cramer, told the finance talk host, “Hey, it’s a stay-at-home world.” Griffin added: “We’ve got 7,000 people deployed globally. They’re doing a great job.”
He noted again the supply chain elements of the current market dives and reiterated a commitment to 5G work that, while delayed, is, he said, still slower but surely on its way.
Skyworks’ shares traded around $82 last week, down 30% since mid-February to a $14 billion market cap.
—Kevin Costelloe
