KEY POINTS
  • Palantir confirmed on Monday that it's cutting about 2% of its workforce.
  • The layoffs will affect roughly 75 people based on the company's latest SEC report in December, which showed 3,838 employees.
  • "We are making the tough choice of reducing teams in several areas," the company said.

In this article

People stand in front of a banner displaying Palantir Technologies Inc. signage during the company's initial public offering, in front of the New York Stock Exchange, Sept. 30, 2020.
Michael Nagle | Bloomberg | Getty Images

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."

In this article