nCino

Banking and mortgage technology company nCino has laid off approximately 7% of its global workforce, affecting about 132 employees out of a total of 1,880 as of January 31. The reduction, announced via email by CEO Sean Desmond ahead of the company's quarterly earnings call, is part of a strategic shift to transition nCino into a high-performing business focused on long-term, sustainable growth. Based in North Carolina and operating in the fintech industry, nCino cited the need to eliminate overage, redundancies, and bureaucracy to move faster and capitalize on the vertical AI opportunity. The layoffs, which notably impacted engineering roles, come as the company continues to integrate its 2021 acquisition of SimpleNexus and recently unveiled new AI-powered solutions at its nSight conference.

nCino laid off 100 employees representing approximately 7% of its workforce on 2023-01-18.