Coupa Software Cuts Jobs After Thoma Bravo Completes Purchase

Coupa Software Inc., the enterprise firm acquired by Thoma Bravo earlier this year, announced job reductions, becoming the latest technology company to prioritize profit in an uncertain economy.

“We aren’t doing this because of new ownership; we’re doing this to put Coupa on a stronger footing for long-term success,” interim Chief Executive Officer Charles Goodman wrote Tuesday in a letter to employees. He added that the cuts were made to improve profitability and decision-making speed. The company will also evaluate its real estate footprint, he said.

Goodman began leading San Mateo, California-based Coupa on May 1. Thoma Bravo, ...