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Utah tech layoffs continue, as yet another company valued over $1B sheds hundreds of workers

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Utah tech layoffs continue, as yet another company valued over B sheds hundreds of workers


Pluralsight turns into a minimum of the fourth Utah ‘unicorn’ to chop workers in current weeks.

(Rick Egan | The Salt Lake Tribune) Aaron Skonnard, CEO of Utah tech firm Pluralsight, speaks on the Silicon Slopes Summit on Sept. 30, 2022. On Monday, Skonnard introduced Pluralsight was shedding 20% of its workforce.

Pluralsight, one in every of Utah’s highest profile tech companies, stated it laid off 20% of its international workforce Monday, changing into the most recent Silicon Slopes firm valued at greater than $1 billion to downsize.

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The “difficult financial setting” confronted by Pluralsight, which sells subscriptions to its coaching software program and on-line lessons, has grown extra extreme within the fourth quarter of the yr, CEO Aaron Skonnard informed staff in a Monday observe.

“In consequence, immediately we’re restructuring and decreasing the scale of our crew, impacting roughly 20% of our crew members,” Skonnard wrote. “As your CEO, I personal this end result and take full duty for the choices that bought us right here.”

The layoff impacts about 400 workers, Pluralsight stated in an announcement to The Salt Lake Tribune. “We will additionally verify that we’re offering severance and advantages primarily based on tenure with the enterprise,” the corporate stated.

Pluralsight turns into a minimum of the fourth Utah “unicorn” — a non-public startup that turns into valued at greater than $1 billion — to chop workers in current weeks, following Route and Podium earlier this month and MX in October. And people cuts got here after a sequence of layoffs had already rippled by Utah firms, notably affecting tech positions.

Within the assertion, the Draper firm stated, “We consider these changes will enable us to function extra effectively and permit us to proceed our mission to advance the world’s know-how workforce.”

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Skonnard added: “I wish to personally thank our departing crew members for his or her many contributions to Pluralsight and need them success of their subsequent endeavor.”

One employee laid off Monday stated the layoffs weren’t a shock, as workers had been conscious that the corporate was not hitting inside benchmarks. “On the finish of [the third quarter], we knew it was all arms on deck. After which the final couple of weeks, there was an inkling [of layoffs],” he stated, “however no person knew it was going to be this massive.”

The worker, who requested to not be recognized as he searches for an additional job, added he nonetheless believes in Pluralsight and thinks the workers discount will assist it “be much more solvent financially.”

Based in 2004, Pluralsight turned a public firm in 2018, and had a web lack of $163.5 million in 2019 and $164 million in 2020, in line with SEC paperwork.

A lawsuit alleging Pluralsight made deceptive statements about its gross sales workers in 2019 was lately partially revived by the tenth U.S. Circuit of Appeals in Denver, permitting two funding funds who sued to pursue a few of their claims in federal courtroom. Pluralsight has denied wrongdoing.

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[Read more: Investors in Utah’s Pluralsight get a 2nd chance to prove an executive misled them while he was selling his stock]

In April 2021, Pluralsight introduced it had been acquired by Vista Fairness Companions, which meant its inventory ceased buying and selling and the corporate is now not listed on any public inventory market. Vista paid about $3.8 billion for the corporate, in line with Pitchbook.

Pluralsight was provided a tax rebate deal price as much as $21 million if it met the phrases of a contract with the Governor’s Workplace of Financial Alternative to create 2,464 jobs over 10 years, starting in 2017. A state database exhibits that as of March, Pluralsight had certified for zero to 25% of that whole tax credit score.

Layoffs cut back the tax incentives provided to firms and might disqualify them from receiving a tax credit score for a time interval, the Workplace of Financial Alternative has stated.



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Utah

Utah man triggers avalanche and saves brother buried under the snow | CNN

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Utah man triggers avalanche and saves brother buried under the snow | CNN




CNN
 — 

A man rescued his brother from a “large avalanche” he triggered while the pair were snowmobiling in Utah on Wednesday, authorities said.

The brothers were in the Franklin Basin area of Uinta-Wasatch-Cache National Forest when one of them triggered the avalanche while “side-hilling in a bowl beneath a cliff band in Steep Hollow,” an initial accident report from the Utah Avalanche Center read.

He saw the slope “ripple below and around him” and was able to escape by riding off the north flank of the avalanche, according to the report.

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But his brother, who was farther down the slope standing next to his sled, was swept up by the avalanche, carried about 150 yards by the heavy snow and fully buried, the avalanche center said.

Using a transceiver, the man was able to locate his brother underneath the snow, seeing only “a couple fingers of a gloved hand sticking out,” the report said.

The buried brother was dug out and sustained minor injuries, according to the avalanche center. The two were able to ride back to safety.

The Utah Avalanche Center warned that similar avalanche conditions will be common in the area and are expected to rise across the mountains in North Utah and Southeast Idaho ahead of the weekend.

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Snow expected in Utah valleys and mountains

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Snow expected in Utah valleys and mountains


SALT LAKE CITY — According to forecasters, several parts of Utah will receive snow Thursday morning and evening.

On Wednesday, the Utah Department of Transportation issued a road weather alert, warning drivers of slick roads caused by a storm that will arrive in two different waves.

UDOT said the first wave should arrive along the Wasatch Front after 8 to 9 a.m. and will move southward across the state until around noon. By 10 to 11 a.m., most roads are expected to be wet.

“This wave of snow only lasts for a few hours before dissipating around noon or shortly after for many routes,” UDOT stated on its weather alert.

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UDOT said an inch or two of snow could be seen in Davis and Weber counties due to cold captures temperatures in the morning.

The Wasatch Back and mountain routes are expected to receive a few inches of snow through noon, with some heavy road snow over the upper Cottonwoods, Logan Summit, Sardine Summit, and Daniels Summit, according to UDOT.

Travelers in central Utah should prepare for a light layer of snow, with an inch or two predicted in the mountains.

Second wave of snow in Utah

According to UDOT, there will be a lull in snow early to mid-Thursday afternoon. But there should be another wave of snow from 4 to 6 p.m.

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“With temperatures a bit warmer at this point, the Wasatch Front will likely see more of a rain/snow mix,” UDOT said. “However, some showers may be briefly heavy for short periods of time and be enough to slush up the roads late afternoon/evening with bench routes seeing the higher concern.”

UDOT predicted the Wasatch Back and northern mountain routes to receive another couple of inches during the second wave.

The storm is expected to end around 9 p.m. for the Wasatch Front and valleys, while the mountains will continue to receive snow until about midnight.





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Judge orders legal fees paid to Utah newspaper that defended libel suit

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Judge orders legal fees paid to Utah newspaper that defended libel suit


SALT LAKE CITY — A businessman has been ordered to pay almost $400,000 to the weekly Utah newspaper he sued for libel.

It’s to cover the legal fees of the Millard County Chronicle Progress. In September, it became the first news outlet to successfully use a 2023 law meant to protect First Amendment activities.

The law also allows for victorious defendants to pursue their attorney fees and related expenses. The plaintiff, Wayne Aston, has already filed notice he is appealing the dismissal of his lawsuit.

As for the legal fees, Aston’s attorneys contended the newspaper’s lawyers overbilled. But Judge Anthony Howell, who sits on the bench in the state courthouse in Fillmore, issued an order Monday giving the Chronicle Progress attorneys everything they asked for – $393,597.19.

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Jeff Hunt, a lawyer representing the Chronicle Progress, said in an interview Tuesday with FOX 13 News the lawsuit “was an existential threat” to the newspaper.

“It would have imposed enormous financial cost on the on the newspaper just to defend itself,” Hunt said.

“It’s just a very strong deterrent,” Hunt added, “when you get an award like this, from bringing these kinds of meritless lawsuits in the first place.”

Aston sued the Chronicle Progress in December 2023 after it reported on his proposal to manufacture modular homes next to the Fillmore airport and the public funding he sought for infrastructure improvements benefiting the project. Aston’s suit contended the Chronicle Progress published “false and defamatory statements.”

The suit asked for “not less” than $19.2 million.

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In its dismissal motion, attorneys for the newspaper said the reporting was accurate and protected by a statute the Utah Legislature created in 2023 to safeguard public expression and other First Amendment activities.

Howell, in a ruling in September, said the 2023 law applies to the Chronicle Progress. He also repeatedly pointed out how the plaintiff didn’t dispute many facts reported by the newspaper.





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