Big IT company moves forward on  layoffs...?

The phase of layoffs that started in the IT sector in the year 2023 is continuing in 2024 as well. Employees have received bad news of layoffs from many big companies one after the other. Now something similar has happened with the employees of call center software company Five9. Five9 has announced a reduction of about 7 percent in its workforce. This decision of the company will have a bad effect on more than 200 employees.

The company has 2684 permanent employees, 200 will be affected

Five9 CEO Mike Burkland has informed the employees about this decision of layoffs through an email. Also, Five9 has also announced this in the regulatory filing. Mike Burkland has written that we are having to take the difficult decision to lay off some of our employees. The company has about 2684 permanent employees. About 200 of these people will be sent home. The CEO of the company said that we have to maintain growth along with profit. Also, shareholders have to be kept satisfied.

Employees will have to be paid about $ 15 million

The company said in a regulatory filing that due to this layoff, they will have to pay employees from $ 12 million to $ 15 million. The company will make this money available in the third and fourth quarters. About 1400 companies are associated with Five9. Mike Berkland has described this layoff as sad. He said that we will have to separate some of our good colleagues from ourselves. However, it was necessary to do so for the company to work on a new strategy.

The company will be able to save $ 35 million through layoffs, profits will increase

According to a report, the company will be able to save about $ 35 million through this layoff. This can increase the company's profit by about 20 percent. Apart from this, the company will also be able to work on artificial intelligence. With the help of AI, he will also be able to expand his business.