US-based communication software vendor Amdocs cut its global workforce by approximately 3 per cent, but a representative for the company stated to Mobile World Live that its outlook remained strong.
Media website Ctech reported layoffs impacted 700 employees, including 100 in Israel where the company was founded. The company had about 30,000 employees last year.
The Amdocs representative didn’t disclose which areas and countries were impacted by the job cuts.
“Amdocs is a robust company, with sustained growth and a strong outlook for the future,” according to a statement. “However, out of responsibility and alertness to what is happening in the world, we are required to take actions to maximise our flexibility and efficiency and do so cautiously and moderately, including reducing the global workforce by a rate of approximately 2 per cent to 3 per cent globally.”
The company reported full-year fiscal revenue of $4.5 billion in November, which marked a 6.7 per cent year-on-year increase. Amdocs’ operating profit for the year was almost $665 million, an increase of more than 10 per cent.
It forecast revenue growth in the range of 6 per cent to 10 per cent for fiscal 2023 ending in September.