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Peter Thiel’s Palantir cuts around 2% of its workforce

“To continue to evolve, we are making the tough choice of reducing teams in several areas,” the company said.

“While less than 2% of our workforce is impacted by these changes, these are incredibly painful decisions but the right ones for the company’s future.”

The company’s finance chief David Glazer earlier this month told Reuters Palantir had reduced employees’ stock-based compensation and cut back on cloud expenditure in recent months in response to lower spending from recession-wary businesses.

Earlier this month, Palantir had also said it expects 2023 to be the company’s first profitable year as it benefits from cost cuts and the artificial intelligence boom.

Category: Technology

Source: NYPost Technology

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