Home Tech & Gadgets Is the Romanian unicorn UiPath going in the head? Everything starts...

Is the Romanian unicorn UiPath going in the head? Everything starts from the employees and there is a big earthquake inside

29
0

We are used to finding only impressive news about UiPath, the Romanian unicorn that made history on the world’s top financial markets. This time, the latest news makes us wonder if there are any problems in Paradise.

It seems that UiPath is making massive layoffs. About 5% of the company’s workforce, respectively about 4,200 people will be laid off in the next period.

It’s not a rumor, everything was declared “from above”

The wave of restructuring was announced by the management of the legendary company, in a press release recently published.

According to him, the members of the Board of Directors have already approved the decision to reduce the number of employees. As arguments, Uipath leaders talk about “higher sales productivity and the best experience and results for customers.”

The whole restructuring procedure will cost the company good money. The board expects UiPath to eventually pay about $ 15 million in expenses such as severance pay and other such payments.

“The reduction of the workforce aims to simplify the market approach, starting with an alignment that we believe will result in a better market segmentation, in higher sales, as a result of better results and experiences for customers. The company estimates that it will incur a series of restructuring costs of about $ 15 million, which are mainly related to the severance pay and compensation benefits, as well as contract fees (…)

This process comes after two years in which the company has grown at an extremely fast pace, and now is the time to evaluate the teams and internal investments. The management team decided to reorganize the business lines that do not align with the current focus and to implement changes that help maintain the organizational culture of UiPath “, it is shown in the communiqué.

Recall that Uipath, a global leader in the enterprise automation market, announced in March a major partnership with the start-up FLOWX.AI, which is developing a revolutionary platform for orchestrating digital experiences based on low-code / no-code and which is addressed to enterprise companies.

Read:  EGO.ro, the newest site for ladies and gentlemen, launched on Women's Day, March 8

According to FLOWX.AI, the partnership allows organizations to quickly build unified omnichannel experiences for their customers and employees through accelerated integrations across existing infrastructure.

“We are excited that FLOWX.AI is becoming a technology partner of UiPath. We have followed their evolution and we are confident that we will bring our technology contribution together to build the strategic benefits of our common customers and create a unified digital experience for customers and their employees, ”said Dhruv Asher, Senior Vice President, Technology Alliances at UiPath .

Previous article“Spanish Hour” and “The Child and the Spells” directed by Tompa Gábor, at the Bucharest Opera Festival, on June 26
Next articleRomanian artist Adrian Ghenie has exceeded $ 10 million in auctions