Saturday, June 15, 2024

Business software major Anaplan begins mass layoffs: Report

US-based business software giant Anaplan has reportedly started mass layoffs, affecting hundreds of employees.

According to The New York Post, the total number of Anaplan layoffs “is believed to be significant,” while remaining workers are now “worried about internal politics and job security”.

At least 119 employees were laid off at the company’s San Francisco headquarters. According to the report, layoffs affected at least 300 employees overall.

The job cuts occurred across the company, affecting software engineers, copywriters, security analysts and various other roles, according to the report.

“One Anaplan employee claimed on Blind that more than 500 workers were impacted across offices in the US and the UK,” it added.

In 2022, private equity firm Thoma Bravo acquired Anaplan for $10.4 billion.

Some impacted workers were quoted as saying that Thoma Bravo has “destroyed the company” since taking it private.

“The people doing the hard work and driving the product and revenue and supporting customers are being laid off, without any evaluation of the C-level leaders,” an impacted Anaplan employee told The Post.

A major player in software investment, Thoma Bravo had more than $127 billion in assets under management (as of March end).

Both Thoma Bravo and Anaplan representatives did not comment.

Some Anaplan employees confirmed they were asked to goAon LinkedIn.

“That was quick. Unfortunately, yesterday my journey with Anaplan was cut short due to company layoffs,” one former executive wrote on LinkedIn. “I know many people have been here before, especially recently. It’s shocking, disappointing, and filled with a sense of loss.”

Several Anaplan employees also wrote about mass layoffs on Blind, which is an app that provides an anonymous forum and community for verified employees to discuss issues.

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