New York-based software company Return Path Inc. announced companywide job cuts earlier this week, a company executive said, some of which took place at the Indianapolis office it opened in 2015.
Daniel Incandela, senior vice president of global marketing at the company, confirmed the layoffs to IBJ Thursday, but declined to specify the number locally or companywide. He said the number of Indianapolis cuts was fewer than 10, and that the firm still employs 50 here.
"Minimal impact impact here in Indy," Incandela said in a text message, "and this office will remain a vital, strategic center for marketing and sales."
He didn't answer questions about the categories of jobs cut, though this office was established as a marketing outpost and does not employ software engineers.
Return Path is a 17-year-old tech firm that helps other companies legitimize and ensure external emails arrive at their intended destinations. It set up shop in Indianapolis in January 2015 and occupies about 7,000 square on the 11th floor in Market Tower.
The privately held firm generates nearly $100 million in annual revenue and boasts a double-digit revenue growth rate, CEO Matt Blumberg told IBJ last year in a story about how it and and other out-of-town companies have set up outposts in Indianapolis.
Those gambles on Indianapolis have fared differently for different firms. Chicago-based social media analytics startup Geofeedia Inc., for instance, established a downtown office in late 2014 but struggled to grow its headcount much above above 30. In August it decided to nix is sales and marketing teams here and only focus on software talent.
Meanwhile, cloud consultancy Appirio set up an Indianapolis office in 2012, moved its headquarters here from San Francisco in 2015 and sold itself to India-based Wipro in October. Officials said Appirio will be an independent subsidiary of Wipro with its core operations remaining local.
Despite the layoffs, Return Path is above the hiring target it set in exchange for state incentives. For $260,000 in conditional tax credits and up to $150,000 in training grants, it said it would employ 40 people by 2019.
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