Automation Anywhere Layoffs impacted 100+ workforce due to COVID-19 and SoftBank.
As per the below mentioned LinkedIn post form Automation Anywhere’s CEO – Mihir Shukla, Automation Anywhere has reduced its workforce and will be restructuring in order to better meet the business demands.
CEO’s message to the employees
Automation Anywhere Layoffs 2020
Automation Anywhere is a Robotic Process Automation (RPA) company which values at $6.8 billion post receiving $290 million in Series B funding recently. The funding was led by Salesforce Ventures with additional funding from existing investors, including Softbank Investment Advisers and Goldman Sachs.
Automation Anywhere reduces 100+ workforce from a total of 2500+ according to the sources. It includes executive and associate level employees. The current layoff impacted in the USA, yet to get an update from the IMEA region. This isn’t yet finished deferring it further continues as per sources.
The cutoff is a reality check for the entire RPA software market which was expected to reach around $7.2 billion by 2025.
Why the reduction in the workforce?
The main reasons for reducing the workforce are:
- Lower growth projections than planned pre-COVID-19.
- Drastic changes post COVID-19 and life will not be the same.
- As per the sources, Soft Bank is one of the biggest investors, and Automation Anywhere has been backed in recent years, appears to have lost faith in the company.
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