As the wave of layoffs continues to hit the technology industry,Palantir(PLTR.US)confirmed on Monday that it will cut about 2%of its workforce.After the announcement of the news,Palantir’s share price remained almost unchanged on Monday,and the stock has risen 27%so far this year.

It is understood that Palantir said in an email statement:”We believe that our company is at an inflection point,but in order to continue to develop,we are making difficult choices and reducing teams in several areas.Although less than 2%of employees are affected by these changes and these decisions are very painful,they are correct for the company’s future.”

According to the latest report of the United States Securities and Exchange Commission(SEC)in December last year,the layoffs will affect about 75 people.At present,the company has 3838 employees.A spokesman said that the company planned to continue to recruit employees in areas of strategic importance.

It is worth mentioning that before the layoffs,the software company announced its first profit in the fourth quarter earlier this month,with Q4 revenue increasing by 18%to$509 million.The company is famous for its cooperation with government defense agencies.In addition,Alex Karp,Chief Executive Officer of Palantir,said that he expected to make profits in this fiscal year.

After more than ten years of uncontrolled growth,the technology industry is expected to slow down.Currently,Palantir is the latest technology company to announce layoffs.In addition,Twilio(TWLO.US),Dell Technologies(DELL.US),Zoom and eBay(EBAY.US)disclosed large-scale layoffs this month.In January this year,Google(GOOG.US)announced plans to lay off more than 12000 people,Microsoft(MSFT.US)announced plans to lay off 10000 people,and CRM.US said plans to lay off 7000 people.