Amdocs, the Israel-based business systems company, is planning to trim its global workforce by five to 10 per cent. This is the second major round of layoffs, after the last one a year ago. At least 1,500 will leave, and the number may even go up to 3,000, but there is no official confirmation of the number of employees impacted.
The company’s global workforce strength is about 30,600.
The layoff is Amdocs’ way of responding to the challenges thrown up by the business environment. It will continue to invest in innovation and integrate emerging technologies.
The workforce trimming is required to ensure that the firm remains competitive and is able to respond to the changing market demands.
When the software and communications service provider had announced the layoff of about 2,000 employees in July 2023, it had said the objective was to ensure long-term growth and enhance operational efficiency by making necessary adjustments to its workforce. At the time, Amdocs had said the job cuts were a result of the ongoing evaluation of the global economic landscape, and that the company was facing increased competition from other software and communications service providers.
In January 2023, Amdocs had let go about 700 employees, that is, three per cent of the workforce. During the pandemic it had let go a 1000, including hundreds from Israel.
Shuky Shefer is the CEO of Amdocs, and the firm posted a revenue of $2.5 billion in the first half of financial year 2024.
