NOVEMBER 8, 2023 — 10% OF WORKFORCE TARGETED
The company announced plans to lay off 10% of its workforce, or around 545 employees, to align its cost structure with its business strategy.
Today, the Company announced a plan to reduce its workforce by approximately 545 employees, representing 10% of the Company’s current global workforce, and to reduce its global real estate footprint. The November Plan is intended to further streamline the Company’s cost structure as a direct result of its cloud-only, consumption-driven strategy announced in January 2023.
The increased focus and simplicity of the CoCd strategy enable the Company to deliver continued AI-powered product innovation and strong Cloud Subscription ARR growth with a lower expense base and higher operating margins.
Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process beyond the first quarter of 2024 in limited cases. The charges that the Company expects to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from such estimates.
In January, we transitioned to a cloud-only, consumption-driven strategy, which is the final leg of our multi-year plan to drive profitable growth. We’ve already seen significant benefits of these initiatives undertaken throughout this year, including the strong momentum and execution reflected in today’s earnings results. Our next phase of growth allows us to further streamline our global cost structure without reducing our growth expectations. We intend to finish our transition to a cloud-only business model while maintaining sales capacity, best-in-class product innovation, and customer satisfaction. We have strong momentum heading into the fourth quarter and look forward to sharing more about our strategy at Investor Day.”
JANUARY 30, 2023 — Original post…
Redwood City, California-based Informatica, a software development company providing enterprise-level cloud data management, integration, and analysis services, has announced a change in leadership along with a 7% reduction in force.
The reduction in force will impact 450 employees.
According to an SEC filing, "The reduction is intended to better align the company’s global workforce and cost base with its cloud-focused strategic priorities and current business needs."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
