Coupa Software, a business spend management company, is implementing layoffs as part of a "company reset strategy" announced on May 30, 2023. While the exact number of employees affected was not disclosed, the cuts are aimed at creating a leaner organizational structure by reducing duplication of roles and layers of management. Interim CEO Charles Goodman cited a shifting macroeconomic environment that demands a balance between growth and profitability, rather than the company's recent acquisition by private equity firm Thoma Bravo, as the driving force behind the restructuring. This move follows Coupa's transition to a privately held entity after its $8 billion acquisition earlier in the year.
