Washington, D.C.-based FiscalNote Holdings, a software, data, and media company provideing software tools, platforms, data services, and news through its FiscalNote Government Relationship Management (GRM) service, has announced a 25% reduction in force as part of an "organizational transformation" to cut costs, and shift towards AI automation, offshoring, and restructuring to reach positive free cash flow by early 2027.
The reduction in force will impact 110 employees.
An SEC filing reveals major fiscal problems: "FiscalNote Holdings no longer complies with the NYSE’s continued listing standard requiring companies to maintain an average closing
share price of at least $1.00 over a consecutive 30 trading-day period. Accordingly, the NYSE has determined to commence delisting proceedings. As the Company prepares for trading on a different exchange, it is doing so at the start of a new phase of health and opportunity. FiscalNote recently announced an organizational transformation that includes a 25% workforce reduction."
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?