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CyrusOne lays off 55 employees as part of cost reduction initiative

Jan 14, 2020 - SNL Real Estate Daily
Board and Executive Moves

The company also said Tesh Durvasula will resign as president of Europe, effective March 1.

CyrusOne Inc. said Jan. 13 it will cut its workforce by 55 employees, with immediate effect.

The staff reduction, which represents about 12% of the data center real estate investment trust's workforce, "will result in enhanced margins and higher profitability over time," said CyrusOne President and CEO Gary Wojtaszek. Severance pay and customary transition assistance will be provided to the af...