Wandisco to lay off almost a third of its staff as probe into £93m sales scandal continues
Job cuts: Wandisco will lay off almost a third of its staff as the probe into its £93m sales scandal continues
Embattled British technology business Wandisco will lay off almost a third of its staff as the probe into its £93million sales scandal continues.
It said 30 per cent will leave just weeks after the City watchdog launched an investigation into the firm.
Ken Lever, the executive chairman, said: ‘Regrettably, the proposed action is a necessary step to responsibly position Wandisco for long-term growth.’
Wandisco has around 180 employees and is set to axe roles in the US, UK, China, Japan and Australia.
The Sheffield firm suspended shares from trading in March after uncovering ‘significant, sophisticated and potentially fraudulent irregularities’.
It has torn up its 2022 results after it found sales bookings came in at £9.2million, well below the £103million posted, meaning bookings worth £93million were completely false.
The company develops software so clients, which include Amazon, can move around large amounts of data.
Last week it said an independent probe found irregularities could be traced back to one employee.
It is co-operating with the Financial Conduct Authority and external investigators.