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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}