In the middle of a wave of layoffs by technology companies large and small, Palantir Technologies is looking to add to its workforce — while still paying close attention to its overall spending. Despite economic uncertainty, co-founder and CEO Alex Karp hopes to bring on a couple hundred new hires to its current staff of roughly 3,500, according to comments he made while attending the World Economic Forum in Davos.
The executive will likely have a wide selection of talent to choose from as big tech companies lead the shedding of surplus employees.
The U.S. government’s favorite big data analysis company, Palantir has seen a boom in business since the outset of the Russia-Ukraine war, but its stock price has mirrored many more slumping tech stocks. However, Karp sees that clients are looking to reduce their cloud-based costs by consolidating services — Palantir teams with Cloudflare to monitor cloud usage and spending --- which is a boon for the company.
Despite the company’s continued success in North American markets, Karp recognizes that the economic situation could get worse — possibly reaching a recession at some point in 2023. No matter the future, the CEO is confident Palantir is ready for anything.