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Pitney Bowes MapInfo lays off 128 workers, including at RPI Tech Park
Comments 0 | Recommend 0The latest announcement of private-company layoffs will affect workers at Rensselaer Polytechnic Institute Technology Park.
Pitney Bownes MapInfo, a demographic map company, has cut 128 full-time positions from its software division, called Group 1 Software.
The layoffs are part of a move to reduce operating expenses by 7 percent.
About a dozen of those layoffs will be at MapInfo's headquarters in the RPI Tech Park.
The layoffs will take place from now through the next several months. They come two years after Stamford, Conn.-based Pitney Bowes acquired MapInfo for $408 million.
"The actions announced today were not made easily, but we need to make these changes in order to strengthen the business and address the challenging economic market conditions," said Mike Hickey, president of Pitney Bowes MapInfo and Group 1 Software. "In addition, today's activities should enable us to be better positioned for rapid growth when the economy begins to recover."
The workers let go will be provided with severance and outplacement services, said Hickey.
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