Minneapolis-based Fair Isaac cutting 250 jobsby Martin Moylan, Minnesota Public Radio
St. Paul, Minn. — Minneapolis-based Fair Isaac Corporation, best-known for providing the FICO consumer credit rating scores, is cutting 250 employees.
Thirty of the 250 job cuts will come in Minnesota.
The software and data analysis company indicated it also plans to eliminate about 50 other positions company-wide through attrition. The firm had previously announced job cuts last April.
With the latest round of reductions, the company will have slashed its workforce by about 25 percent in a year. The firm will be left with some 2,100 employees worldwide.
Fair Isaac expects to save about $40 million a year with the job cuts, along with building consolidations, and pay and benefit reductions.
The company says the moves are needed to protect its profitability in the face of a global slowdown in the financial services industry.