Palantir confirmed on Monday that it’s cutting about 2% of its workforce as layoffs continue to hammer the tech industry.
“We believe our company is at an inflection point and to continue to evolve, we are making the tough choice of reducing teams in several areas,” the company said in an emailed statement. “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 layoffs will affect roughly 75 people based on the company’s latest Securities and Exchange Commission report in December, which showed it had 3,838 employees. A spokesperson told CNBC the company plans to continue hiring in areas of strategic importance.