Software Consultancy Firm Thoughtworks Cuts About 500 Jobs

Software Consultancy Firm Thoughtworks Cuts About 500 Jobs
A person holds a smartphone with the logo of U.S. software company ThoughtWorks Inc. on screen in front of its website. T. Schneider/Shutterstock
Reuters
Updated:

Software consultancy firm Thoughtworks Inc. said on Wednesday it laid off 4 percent of its global workforce, or roughly 500 employees, joining a host of U.S. companies looking to cut costs amid a sobering economic outlook.

Tech firms have laid off thousands of workers recently as they brace for a period of lower demand, high interest rates, and macroeconomic instability.