Credit scoring giant FICO is implementing a substantial layoff, cutting 15% of its workforce. This restructuring involves reducing management layers and streamlining operations. The company is also integrating AI into its product development processes. These changes are expected to be completed by the end of the third quarter of fiscal year 2027. FICO anticipates recording approximately $27 million in pretax charges related to severance costs.
San Jose, California
https://www.housingwire.com/articles/fico-layoffs-competition-mortgages/