Xero adds deep global expertise, ends painful job cuts

Xero boss Sukhinder Singh Cassidy said Xero will need to be smarter at getting subscribers to try new products. (Image: NZME)

Rebecca Stevenson

Fri, 10 Nov 2023

Xero has finished its deep, painful company-wide job cuts, chief executive Sukhinder Singh Cassidy says. The Australian securities exchange-listed company reported its result for the half year to Sept 30 on Thursday, confirming it had cut 14% of its workforce. Headcount at the Wellington-headquartered firm had fallen from 4,915 to 4,242, with redundancy costs totalling $31 million. The cuts were announced by Singh Cassidy in March. Xero announced revenue growth of 21%, a 90% increase in earnings before interest, taxes, depre...

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