GiG Software cuts more than 25% of its workforce

GiG Software CEO Richard Carter said during the investor meeting presenting the third-quarter financial results that strategic optimization initiatives and AI-driven efficiencies have made the company leaner, more aligned and more connected. GiG Software had announced in January that it would cut jobs in its technology teams. This decision was part of a broad cost reduction plan following the 2026 profit warning.

CFO Phil Richards said the layoffs affected more than a quarter of the total workforce. Richards also stressed that further cost savings will be made to strengthen the financial position. The company has reported net losses for several quarters, and in the third quarter adjusted EBITDA fell 33%.

Carter said the company has withdrawn from markets such as the Philippines and has exited its white-label business. He said the company is relying on AI and operational efficiencies to maintain delivery quality despite the job cuts.

In August, GiG Software acquired a majority stake in 888Africa for 16.4 million euros, and the company believes this investment is promising for its recovery. For 2027, the company expects total revenue of 85 to 90 million euros and adjusted EBITDA of 17 to 19 million euros. Carter said he expects the core business to reach breakeven again in the fourth quarter of 2026.