Akamai Technologies Cutting 3% of Staff as Part of Restructuring

Hundreds of jobs are on the chopping block at Akamai Technologies (Akamai) as the internet services company restructures its business.

According to news outlets, including The Boston Globe, Akamai is planning to cut approximately 300 jobs, or three per cent of its global workforce.

“This was a difficult decision, but it was necessary for us to prioritize investments in the areas with the greatest potential for future growth as we strive to deliver greater value for shareholders,” CEO Tom Leighton told analysts after the company released its Q1 2023 financial results on May 9.

In its earnings release, Akamai noted that it recorded a $45-million restructuring charge in the quarter — primarily related to “severance costs.”

The company’s LinkedIn page claims that it employs a global workforce of more than 9,100 people. Over 130 staff members are located in Canada.

Impact on Canadian staff

Akamai didn’t disclose how many Canadian employees are affected by the latest round of cuts.

The company has a significant presence in Canada, with offices in Toronto, Ottawa, and Vancouver.

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