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BLACKBAUD STAFF OFF 14 PERCENT Featured

Cost-cutting at Blackbaud in the fourth quarter and this month has resulted in a roughly 14 percent reduction in staff since the third quarter. But 2022 as also the first year the nonprofit software company topped $1 billion in revenue.

During the week’s earnings webcast, CEO Mike Gianoni noted there were fewer employees on December 31 than a year earlier. He noted that layoff notifications went out this week in the United States. “We selectively replace attrition, closed open requisitions and had a work force reduction late last year,” Gianoni said. He noted the company closed four data centers and maintained a lower run rate on rent expense and travel costs. CFO Tony Boor noted a decrease in attrition forced the company to lay off staffers. Blackbaud loss $45.4 million last year, compared to earnings of $5.7 million in 2021. Revenue for the most recently ended year was $1.1 billion, up 14.1 percent from $927.7 million the prior year.Growth slowed in the fourth quarter with revenue of $274.8 million, an increase of 10.8 percent from $247.9 million in last year’s corresponding period.

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