Vermont Information Processing has disclosed 66 job cuts at a time when it is expanding AI features for beverage-industry customers. The Colchester company attributes the decision to a review of its structure and business priorities. The cuts follow its acquisition of Encompass Technologies; its statement does not identify which eliminated jobs moved to AI.
Vermont Information Processing, which develops software for the beverage industry, has disclosed 66 job cuts. The company is based in Colchester in the US state of Vermont. A legally required notice was submitted to the state labor department on Tuesday. The company says it reviewed its organizational structure and business priorities as it moved toward a product-led organization.[1], [2]
The reduction comes a little more than a month after Vermont Information Processing bought Encompass Technologies, another software supplier to the industry. Chief executive Andrew Criezis emphasized the potential for technology and AI to change how food and beverage businesses operate when discussing the deal. The company markets AI functions for planning delivery routes, placing orders and producing reports. Its layoff statement does not identify which eliminated tasks were transferred to AI.[1]
Vermont Information Processing had grown to roughly 600 employees while it was employee-owned. Private equity firm Warburg Pincus acquired the business last year for a reported 1 billion dollars. The headquarters stayed in Colchester, alongside offices elsewhere. Many employee-owners received sizeable payments from that sale, with earlier reporting putting proceeds above 1 million dollars for many individuals. Those earlier payments do not identify the employees affected by the present cuts.[1]
