nCino reducing workforce by approximately 7%

WILMINGTON, NC (WWAY) — nCino Chairman and Chief Executive Officer Pierre Naudé has told employees that the company will cut its workforce going forward.

In an email sent to employees, Naudé writes that Wilmington-headquartered company will be “reducing the size of our nCino team by approximately 7%.”

The email cites “mortgage rates rising faster than at any time in memory, macroeconomic and geopolitical challenges in Europe, and a slowdown in the broader economy” for the change, as the company looks to adapt “from a pure growth company to a best-in-class profitable growth company.”

Counselors were onsite at the Wilmington headquarters on Wed., Jan. 18, and will be again on Thu., Jan. 19.

A link to the email can be found on nCino’s webpage.