Corsair lays off 90 employees as part of “organization change”

90 Corsair employees have been laid off following poor Q2 performance from Corsair Gaming

Corsair has become the latest company to undergo layoffs. This month the company announced lowered Q2 revenues and losses of $29.6 million. As a result of this, Corsair has announced “organisation change” and that they will be reducing the company’s headcount.

Corsair’s losses can be attributed to weak sales in the overall gaming market. While sales for peripherals remain strong, sales for “self-built PC” products are lower. These products include memory modules, SSDs, and other PC components. Sales for these products often surge when new PC hardware is released. This makes the lack of CPU and GPU launches in recent quarters a major factor that contributed to Corsair’s poor hardware sales. After all, people often buy PC memory and other components when upgrading their systems.

Below is an “all Corsair” email that was sent by CEO Andy Paul to employees. This Corsair-wide email announced the c0mpany’s planned layoffs to employees.

Hi Everyone,

As many of you know, the gaming market has not grown as well as we expected this year, especially in the self-built gaming PC market where our Memory modules and components are used.

Because of this we need to streamline our operations and costs.

This week we will be announcing an organization change that will bring some of our centralized marketing functions into the Business units. More about this will come soon.

At the same time, we will be taking several steps to reduce costs, both external as well as internal expenses.

During this process we expect to reduce headcount by approximately 90 people over the next few weeks.

This decision is by no means easy, but necessary as we align our expense structure with our current business levels.

We will continue to invest in our growing business categories, and we expect our components and Memory businesses to recover next year as new games and hardware is released to the market

I recognize that this process can cause anxiety, and we will be attempting to notify those impacted by this change over the course of this week.

I want to thank all of you for your continued commitment to Corsair and to those leaving the company, all of us wish you the best of luck and thanks for all you’ve done in helping build a great company.

– Corsair CEO Andy Paul – via The Layoff

Moving forward, Corsair plans to invest further into the growing areas of their business. They also see growth coming for their hardware business due to the upcoming hardware/game launches. In their Q2 earnings report, Corsair states that they “expect to see new GPUs from NVIDIA launching around the end of 2024”. They also list games like Call of Duty: Black Ops 6 and Grand Theft Auto VI as potential catalysts for gaming component and peripheral sales in the coming quarters.

To Corsair’s laid off employees. We are sorry to hear about your job losses and hope that you can all find new and stable employment soon.

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