ConstructionAU

Nearmap Layoffs

February 2023

Nearmap announced a layoff affecting 0 employees (20% of its workforce) in February 2023. The company operates in the Construction sector.

People Affected

Percentage

20%

Announced Date

Feb 8, 2023

About

In February 2023, shortly after its acquisition by US private equity firm Thoma Bravo in a deal valued over $1 billion, Australian aerial imaging software company Nearmap underwent significant leadership changes. The company saw the resignation of CEO Rob Newman and the departure of CFO Penny Diamantakiou, with COO Andy Watt stepping into the CEO role. While the exact number of layoffs was not specified, these high-level exits indicate a restructuring phase typical after private equity takeovers, aimed at streamlining operations and aligning with new strategic directions in the competitive tech and software industry.