Innodata Shares Plunge 28% After 550 Layoffs

Innodata Shares Plunge 28% After 550 Layoffs

Innodata (NASDAQ:INOD) shares dropped 28% on Tuesday, marking the company's largest intraday decline since February 2024. The sell‑off was triggered by reports that the AI services firm had laid off nearly 550 employees in India and had also reduced staff in the Philippines. IndiaToday.in contacted Innodata for comment on the layoffs, but the company had not issued an official statement at the time of reporting. The news was published by Reuters on 27‑10‑2026 at 09:00 pm, authored by Louis Juricic, and appeared on Investing.com.