(Bloomberg) -- Coupa Software Inc., the enterprise firm acquired by Thoma Bravo earlier this year, announced job reductions, becoming the latest technology company to prioritize profit in an uncertain economy.

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“We aren’t doing this because of new ownership; we’re doing this to put Coupa on a stronger footing for long-term success,” interim Chief Executive Officer Charles Goodman wrote Tuesday in a letter to employees. He added that the cuts were made to improve profitability and decision-making speed. The company will also evaluate its real estate footprint, he said.

Goodman began leading San Mateo, California-based Coupa on May 1. Thoma Bravo, a private equity firm, completed the $6.2 billion acquisition in February. Coupa, a maker of software that helps companies track and manage the purchasing of goods and services, employed 3,076 people as of January 2022, according to regulatory filings.

A Coupa spokesperson declined to say how many roles were affected by the workforce cuts, saying “as notifications are ongoing, we’re not in a position to provide a specific number.”

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