Minneapolis Software Firm Jamf To Lay Off 6% Of Staff As It Boosts AI Investment

Minneapolis Software Firm Jamf To Lay Off 6% Of Staff As It Boosts AI Investment

Dozens of full-time salespeople are being cut loose as the Minneapolis-based software company turns more toward artificial intelligence.

Almost 170 people will lose their jobs at Apple software and security specialist Jamf, which is boosting its investment into artificial intelligence (AI).

The Minneapolis-based software company announced on Tuesday that the 166 layoffs, which comprise a 6.4% reduction of its workforce, are part of "a strategic reinvestment plan to help drive long-term growth, improve operational efficiency and enhance shareholder value."

Most of the job cuts will impact full-time sales employees, many of whom are based in Minneapolis. Jamf expects to spend between $11 million and $12.5 million on severance payments, employee benefits and related costs.

Jamf Minneapolis office: Courtesy of Jamf Holding Corp.

At the same time, the company is "further accelerating investments in AI capabilities that improve the customer experience in the Jamf product platform," according to a news release announcing the plan.

Jamf says it has achieved "efficiencies" over the past year from deploying AI within its sales, product and customer success groups, and the reinvestment will "drive further productivity enhancements by accelerating delivery of AI- and automation-driven solutions across the entire organization."

Jamf is projecting $167.5 to $169.5 million in second quarter revenue. It posted a $4.2 million quarterly loss in May, which was an improvement on the $21.1 million loss the year before.

The company employed around 2,600 people worldwide as of April. Another 6% of Jamf's workforce was laid off at the beginning of 2024.

SOURCE: Bring Me The News