Global software company Sapiens is reportedly planning to lay off about 10% of the workforce, affecting the US and Indian workforce the most. In India, the company has about 2000 employees.
The development follows a $2.5 Bn acquisition by private equity firm Advent in December last year. However, the layoffs may not be uniform worldwide, reported Calcalist.
According to the report, Sapience currently employs about 5,400 people across multiple nations, and about 540 are set to be affected by this
Post acquisition, the company headquarters shifted to London from Holon, Israel. Due to this, even in Israel, there will be about 5% job cuts.
On this layoff disparity, the Chief People Success Officer at Sapiens, Dr Ernesto Merinelli, said, “Although the management headquarters moved out of Israel, Sapiens remains deeply committed to its Israeli site, which is central and critical to the company… That’s why the reduction here is more limited, and we will continue to invest significant resources in Israel.”
According to him, the reduction comes as a part of a broader structural transformation.
