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Informatica Plans To Lay Off More Than 500 Employees
Despite reporting strong third-quarter results, the company revealed a restructuring plan that includes laying off 545 employees, including 90 in Redwood City
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layoffs, pink slip, job loss
Informatica, a cloud-based AI data company, issued a press release lauding "another strong step forward" for the company.
Despite reporting strong third-quarter results, AI startup Informatica has announced plans to lay off over 500 employees, accounting for roughly 10 per cent of its workforce. The company is implementing this decision as part of its growth strategy and shift from traditional software licence sales to a usage-based model, led by Indian American CEO Amit Wali.
Informatica's third-quarter performance exceeded expectations, highlighting the company's progress towards a cloud-only, consumption-driven strategy. However, in the aftermath of these accomplishments, the company revealed a restructuring plan that includes the layoff of 545 employees, including 90 in Redwood City.
