GiG Software cuts workforce by more than 25% in 2026

GiG Software has reduced its total workforce by more than 25% since 1 January, chief financial officer Phil Richards told investors on the company's Q3 2026 earnings call. The company had confirmed in January that it would cut technology staff as part of a wider cost reduction initiative, without stating at the time how many roles would be affected.

Richards said further cost savings were to come. According to the account of the call, he said: "Since the 1 January, we’ve reduced headcount by more than 25% using AI and operational efficiencies to protect delivery." He added that the company had exited markets including the Philippines as well as its white-label business.

According to Carter, the optimisation work has left GiG better placed to capitalise on any growth that comes its way. He expects the core business to return to break-even in Q4 2026. The chief executive also remarked: "With revenue now running above operating costs, incremental revenue flows through to cash."

The workforce reduction follows a full-year 2026 profit warning issued in the company's Q4 2025 and year-end trading update. GiG Software reported a Q3 2026 net loss of €4.5m, compared with €3m a year earlier, and a year-to-date net loss of €16.9m, against €11.6m at the same point in 2025. Adjusted EBITDA for Q3 2026 fell 33%.

In August, GiG Software completed its €16.4m acquisition of a majority holding in 888Africa. The deal came too late to affect the company's Q3 financial performance. For 2027, total company revenue is forecast at between €85m and €90m, with adjusted EBITDA of between €17m and €19m, compared with guidance ranges of €45m to €48m and €5.5m to €7m for FY26.