This software company will lay off 1000 workers

'Removing management layers...' - This software company will lay off 1000 workers.

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Hyland Software, a US-based software company with an office in Kolkata, India, is laying off about 1,000 employees, approximately 20% of its workforce.

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Hyland CEO Bill Priemer attributed the layoffs to restructuring aimed at reducing the size of the team, adjusting team sizes,

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reassigning responsibilities, and removing layers of management.

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The restructuring is part of Hyland's transformation into a cloud company,

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which requires substantial investment in people and systems.

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Hyland's CEO promised that affected US employees would receive email notifications about their status and the offboarding process,

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including severance pay, healthcare coverage, and outplacement services.

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Laid-off US employees would receive a minimum of three months of severance (more for extended tenure),

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a minimum of five months of healthcare coverage, continued access to the employee assistance program,

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and career resources to help them find their next opportunity.

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Hyland is just one of many companies affected by the layoff wave that started in 2022 and has continued into 2023.

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Even smaller firms are letting go of employees citing different reasons.

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While giants like Amazon, Meta, and Accenture have issued pink slips en masse, the layoff trend seems to be widespread.

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The Hyland CEO's statement did not mention how long the offboarding process would take for employees outside the US,

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but it is expected to take longer due to local laws and practices.

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Johnson & Johnson has offered $9 billion to resolve talc lawsuits.

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