Controversial tech group Palantir Technologies Inc (NYSE:PLTR) is reportedly working on cutting its UK workforce by around 8% as it invests in more artificial intelligence (AI) products.
The data analysis giant co-founded by Peter Thiel is preparing to cut roughly 75 people's jobs from its 900-strong London office and could cancel its previous plan to open a second site in the country, the Evening Standard reported.
Following a global round of layoffs announced in February, where it axed 2% of staff, the company earlier this month reported an unexpected first-quarter profit and hot demand for its upcoming artificial intelligence (AI) tool.
Around the time of the previous job cuts, the company said it believe it was "at an inflection point and to continue to evolve", though last year said countries in Europe were less willing to use its controversial data processing software than those in the US.
The Palantir layoffs follow the 55,000 announced by BT Group last week with a strong link to rising use of AI, while Facebook owner Meta Platforms said last month said it was axing 10% of its British workforce and Amazon in January also tightened its belt with 1,000 workers affected.
Across the tech sector roughly 198,000 employees have been axed so far in 2023, according to layoffs.fyi.
Alongside its earnings call this month, boss Alexander Karp said demand for AI is like "nothing I’ve ever seen in 20 years of being involved in Palantir. Our strategy on AI is just to take the whole market."