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HomeTechAmdocs Announces Layoffs: Software and Communication Services Provider Implements Workforce Reduction

Amdocs Announces Layoffs: Software and Communication Services Provider Implements Workforce Reduction

Amdocs, a tech company that offers software and communication services, has announced layoffs. Amdocs is the latest name to join the list of companies that have laid off a significant number of employees in 2023. The company is planning to lay off approximately 2,000 people. Amdocs was established in Israel in 1982 and is headquartered in the United States. It is now reducing its workforce.

Amdocs is planning to reduce its workforce by up to 6.5%. The company may reportedly show the exit door to more than 2,000 employees. According to a report by Ctech, Amdocs, established in 1982, is set to eliminate over 200 positions. The company stated that it is necessary to continuously evolve to sustain development in light of the global economic situation, just like other major companies worldwide.

Amdocs currently has around 31,000 employees. This is the second time the company is announcing layoffs this year, as it had previously announced the removal of 700 people in January. Among them, 100 employees were laid off solely from Israel. Amdocs primarily works in software and communication services.

However, the company has not yet been significantly affected by the global slowdown as seen in other companies. It has shown profits in recent quarters and has also increased dividends for shareholders. Amdocs shares are also providing returns to investors. According to the report, its current market capitalization is around $12 billion. The company was established in Israel in 1982 and is headquartered in the United States.

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