TaskUs has said it has more than 4,000 employees in the U.S., with most in New Braunfels, San Antonio and Harlingen.
A shared space in what the company calls Galaxis, its New Braunfels headquarters. It touts the site as being easily accessible to both teammates and clients due to its proximity to major cities like Austin and San Antonio, as well as other residential areas.
TaskUs Inc. is continuing to grow globally as it follows through on promises to cut its U.S. workforce. The New Braunfels-based provider of customer support, content security and artificial intelligence operations said Monday it swung to a profit in the second quarter as revenue jumped nearly 37 percent. “While we delivered strong results, we are seeing the impact of our clients shifting their focus from growth to cost optimization,” CEO and co-founder Bryce Maddock told reporters and analysts Monday evening. Net income in the three months ended June 30 jumped to $7.7 million from a loss of $106 million a year ago. Revenue increased to $246.5 million from $180 million. It finished the quarter with a global workforce of 45,300 employees across 26 locations in 13 countries. That was down 500 from the end of the first quarter, when Maddock said it was planning layoffs in the U.S. On Monday, he said the reduction “was driven by our clients’ focus on cost reduction by reducing team sizes, primarily in our U.S. operations and among our crypto clients.” The company also eliminated some “corporate roles.” TaskUs has said it has more than 4,000 employees in the U.S., with most in New Braunfels, San Antonio and Harlingen in the Rio Grande Valley. It has declined to specify the number of employees in each location. It was unclear how many Texas employees have been laid off. Earlier this year, Maddock said cuts were coming because clients were seeking lower costs amid what he called a “volatile” environment. “In the search for immediate savings, some of our clients have cut vendor spend,” he said Monday. “Since our last call, this trend has accelerated particularly among our clients in cryptocurrency and equity trading spaces.”Maddock said TaskUs has been shifting work for Meta “from higher-revenue, on-shore locations to lower-revenue, off-shore locations” and adding employees. “We’ve seen very strong volume growth with this client,” he said. “We’re adding over 1,000 additional roles for them in the back half of this year.” TaskUs’ international operations generate most of its revenue. Its workers in the Philippines led the way in 2021, accounting for 53 percent of its revenue, compared with 32 percent of the total from the U.S.A breakdown of key state and local races and candidates in the May 24 primary runoff. It continued to grow its international footprint in the second quarter with completion of its acquisition of heloo, a Croatia-based provider of digital customer service to technology companies on that continent. It marks TaskUs’ first acquisition since going public in June 2021. Maddock called it “another step forward on our growth trajectory and provides us with a solid footprint in Central and Eastern Europe.” Employees at heloo support 20 languages across seven Eastern European countries, including Bosnia, Serbia and Slovenia. On Monday, TaskUs estimated that revenue would drop to between $224 million to $226 million for the third quarter. It also revised its revenue guidance for 2022. It now expects to generate between $930 million and $950 million for the year, down from previous projections of $980 million to $1 billion. TaskUs shares closed Monday at $23.43, a 2 percent increase from Friday’s close. But it fell nearly 15 percent in after hours trading.
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