Informatica Cutting 10% of Staff, Reducing Global Real Estate Footprint
After reporting solid third quarter results, Informatica is scaling back its staffing levels.
In its Q3 2023 earnings release, the software company said it plans to eliminate approximately 545 jobs, or 10 per cent of its workforce, and reduce its global real estate footprint.
“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,” CEO Amit Walia said in the release.
“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.”
It remains unclear if the cuts will affect Canadian workers at Informatica.
The company employs a total workforce of more than 5,000 people, according to its corporate fact sheet.
If you’re a non-unionized employee, check out our Informatica Layoffs guide.
You can also use our free Pocket Employment Lawyer tool for real-time insights.
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About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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