Megaport Layoffs
January 2023
Megaport announced a layoff affecting 0 employees in January 2023. The company operates in the Infrastructure sector.
0
Jan 5, 2023
Company Information
- Industry
- Infrastructure
- Country
- AU
- Region
- Brisbane, Non-U.S.
About
In August 2022, Megaport, a telecommunications infrastructure company, laid off 35 employees as part of cost-cutting measures to address rising inflation and achieve profitability. The layoffs, representing a small percentage of its workforce, were aimed at turning earnings positive by the fourth quarter and reducing overall losses. This move was positively received by investors, with shares rising 9% despite a broader downturn in the tech sector, though the company's stock had still declined significantly since the start of the year.
Source
View Sourcewww.afr.comRelated Events
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support@layoffs.nlCompany Information
- Industry
- Infrastructure
- Country
- AU
- Region
- Brisbane, Non-U.S.