Software giant Anaplan begins layoffs after Thoma Bravo’s $10.4B buyout deal
Mass layoffs are taking place at the business software company Anaplan, following its acquisition by private equity firm Thoma Bravo in a $10.4 billion deal last year. The number of layoffs is believed to be significant, with hundreds of workers affected. Many employees have expressed dissatisfaction with Thoma Bravo, claiming that the company has “destroyed” Anaplan since taking it private. There are concerns about job security and internal politics among remaining workers. Thoma Bravo, led by billionaire Orlando Bravo, is known for making software investments and had over $127 billion in assets under management as of March. The firm’s cost-cutting measures and changes in leadership have caused friction with long-time Anaplan employees. At least 119 employees were laid off at the company’s San Francisco headquarters, affecting various roles. Two anonymous sources claim that the total number of layoffs is at least 300. Anaplan has offices in the US, UK, Germany, France, and Israel. The company has approximately 2,000 employees globally. Anaplan has not provided any comment on the layoffs.
FAQs
1. How many employees have been affected by the layoffs at Anaplan?
– The exact number is uncertain, but it is believed that hundreds of workers have been impacted.
2. What is the reason behind the layoffs?
– The layoffs are a result of the business software company Anaplan being acquired by private equity firm Thoma Bravo in a $10.4 billion deal last year.
3. How have employees reacted to the layoffs?
– Some employees have expressed their dissatisfaction with Thoma Bravo, claiming that the company has “destroyed” Anaplan since taking it private. There are concerns about job security and internal politics among remaining workers.
4. What has caused friction between Thoma Bravo and long-time Anaplan employees?
– Thoma Bravo’s cost-cutting measures and changes in leadership have caused friction with employees who have been with Anaplan for a long time.
5. How many people were laid off at Anaplan’s San Francisco headquarters?
– At least 119 employees were laid off at the company’s San Francisco headquarters, according to a California WARN notice filing.
6. How many employees does Anaplan have globally?
– Anaplan has approximately 2,000 employees globally, according to its website.
7. What has Thoma Bravo’s response been to the layoffs?
– A representative for Thoma Bravo declined to comment on the matter.
Anaplan, the software giant, initiates layoff process following Thoma Bravo’s $10.4B acquisition
Mass layoffs are reportedly taking place at business software company Anaplan, with disgruntled employees blaming buyout firm Thoma Bravo for “destroying the company” since acquiring it in a $10.4 billion deal last year. According to insiders and posts on the anonymous corporate message board Blind, hundreds of workers have been affected by the layoffs. Former employees have voiced their concerns about the layoffs, stating that the hardworking employees driving the company’s success have been let go without any evaluation of the C-level leaders. Morale is said to be low, with remaining employees now worried about job security and internal politics. Thoma Bravo, led by billionaire Orlando Bravo, is known for its software investments and currently manages over $127 billion in assets. Employees at Anaplan have attributed a shift in company culture to Thoma Bravo’s budget cuts and leadership changes since the acquisition. At least 119 employees have been laid off at Anaplan’s San Francisco headquarters, according to a WARN notice filing, while sources indicate that the total number of layoffs is at least 300. Some employees claim that over 500 workers have been impacted across offices in the US and UK, representing 15% to 25% of Anaplan’s workforce. Anaplan has not responded to requests for comment, and Thoma Bravo declined to comment on the matter.