In a move not without precedent in the technology market, Epicor Software on Thursday announced that it will lay off workers and seek more cost efficiencies, in a move that it hopes will save the company $16 million to $20 million annually.
In a statement that left most of the particulars to the imagination, the mid-market ERP provider said that after a strategic review of company operations, it has decided to reduce its workforce and implement “stricter controls on discretionary spending, and technology initiatives designed to improve efficiencies and reduce operating expenses.”
"Given the current economic environment, it is more important than ever to maximize our flexibility to adapt to whatever market conditions we may face in the most efficient and effective manner, with an eye towards driving maximum profitability,” said CEO Thomas Kelly, in a statement.
An Epicor employee who was caught in the layoff net told Managing Automation this week that Epicor plans to cut 10% of its workforce. An Epicor spokesman would not comment today on the size of the reduction.