Exterro Lays Off Staff Following Zapproved Acquisition

Exterro Cuts Staff after Acquiring Rival E-Discovery Firm Zapproved
 
Exterro, a provider of e-discovery and information governance software, has cut staff, following its acquisition of rival e-discovery firm Zapproved. Although the exact number of layoffs was not disclosed, CMO Bill Piwonka confirmed it was less than 3% of the combined workforce. Piwonka stated that the cuts were due to redundancies found during the integration planning process. Most layoffs were in Zapproved's engineering and development sectors, with a few distributed among other areas. Piwonka said the cutbacks were a result of ironing out the details of the acquisition and the company's goals for its products remain unchanged for now. He added that the acquisition of a direct competitor required extra steps to ensure it was legally and appropriately carried out, which led to limited advance knowledge of the layoffs for most staff.

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Layoffs Due to Redundancies, Optimistic About Future Growth in 2023
 

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Exterro, a software provider for e-discovery and information governance, recently announced staff cuts after acquiring its rival e-discovery company, Zapproved. The company's Chief Marketing Officer, Bill Piwonka, explained that the layoffs were due to redundancies found during the integration process, but declined to provide the exact number of cuts. He also noted that the company's decision to not share information about the layoffs beforehand was to avoid any potential legal violations or manipulation of the market.
 
Despite the layoffs, Piwonka emphasized that Exterro remains optimistic about the future and plans to increase employment and hiring in 2023. The company views the acquisition of Zapproved as a positive move for the market.
 
The layoffs at Exterro come amidst a trend of job cuts in the legal tech industry. Recently, contract lifecycle management provider SirionLabs cut 15% of its global workforce, while other companies such as Reynen Court, Relativity, DISCO, and Icertis have also seen layoffs.