Market News / Story
Fair Issac Cuts 15% Of Staff As Competition Intensifies
BayStreet ·
BayStreet reports: Fair Isaac (FICO) has announced plans to cut 15% of its workforce as the credit score provider faces new competitive threats to its business. In a regulatory filing, Fair Isaac said that it will eliminate 15% of its staff, a move that will cost the company $27 million U.S. in pretax charges for the fourth quarter of this year. Management said in the filing that Fair Isaac will rely more on artificial intelligence (A.I.) as part of the workforce reduction plan. The job…