Palantir to slash about 2% of employees, roughly 75 careers

Palantir to slash about 2% of employees, roughly 75 careers


Individuals stand in entrance a banner displaying Palantir Systems Inc. signage all through the firm’s original general public providing (IPO) in front of the New York Inventory Trade (NYSE) in New York, Sept. 30, 2020.

Michael Nagle | Bloomberg | Getty Photographs

Palantir confirmed on Monday that it’s cutting about 2% of its workforce as layoffs continue on to hammer the tech industry.

“We believe that our business is at an inflection issue and to keep on to evolve, we are making the tricky decision of decreasing groups in numerous places,” the enterprise said in an emailed statement. “Whilst significantly less than 2% of our workforce is impacted by these modifications, these are incredibly painful conclusions but the correct types for the firm’s foreseeable future.”

The layoffs will affect roughly 75 people centered on the firm’s most up-to-date SEC report in December, which showed it had 3,838 staff. A spokesperson explained to CNBC that the corporation programs to carry on choosing in spots of strategic value.

Shares of Palantir had been minimal improved on Monday and are up 27% so considerably this year.

The headcount reduction comes just after the program firm reported its to start with rewarding period previously this thirty day period for the fourth quarter, and CEO Alex Karp stated Palantir expects to generate a profit for the current fiscal calendar year. Palantir, which is recognised for its perform with govt defense companies, documented an 18% boost in fourth-quarter profits to $509 million.

Palantir is the latest tech company to announce layoffs as the field reckons with a slowdown subsequent over a decade of unbridled advancement. Twilio, Dell, Zoom and eBay disclosed significant cuts to their workforce this thirty day period. In January, Google revealed designs to lay off a lot more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce said it prepared to cut 7,000 work opportunities.

Check out: Palantir CEO Alex Karm discusses economic and geopolitical outlook from Davos

Palantir CEO Alex Karp discusses economic and geopolitical outlook from Davos



Resource

Musk calls for federal troops in San Francisco even as Benioff softens stance
Technology

Musk calls for federal troops in San Francisco even as Benioff softens stance

Marc Benioff, chief executive officer of Salesforce, speaks during the World Economic Forum in Davos, Switzerland, Jan. 18, 2024. Halil Sagirkaya | Anadolu | Getty Images As Salesforce welcomes tens of thousands of people to San Francisco for its annual Dreamforce conference, CEO Marc Benioff has found himself in the center of local controversy on […]

Read More
Oracle CEO Magouyrk: ‘Of course’ OpenAI can pay  billion per year for cloud infrastructure
Technology

Oracle CEO Magouyrk: ‘Of course’ OpenAI can pay $60 billion per year for cloud infrastructure

Oracle CEO, Clay Magouyrk, sits down with CNBC’s David Faber on Oct. 13, 2025. CNBC Oracle CEO Clay Magouyrk, one of the two people tapped last month to lead the software company, is confident that OpenAI will be able to cover the costs of the massive amount of cloud infrastructure services it consumes. In an […]

Read More
How Broadcom’s big OpenAI deal fits into the data center boom and what it means for the AI trade
Technology

How Broadcom’s big OpenAI deal fits into the data center boom and what it means for the AI trade

Kicking off the week with a bang, OpenAI announced another massive data center buildout partnership. This time with Club name and custom semiconductor industry leader Broadcom. Shares of Broadcom soared as much as 10.7% on Monday after the two companies revealed that they have been working for 18 months on custom-designed chips optimized for inference, […]

Read More