About one week after St. Paul-based Lawson Software, Inc., was officially acquired by GGC Software Holdings, the business has reportedly given layoff notices to some of its workers.
Lawson, which has 3,800 employees worldwide, is not disclosing the number of employees that will be laid off or where they are located, according to media reports.
When the company completed the acquisition last week, a spokesman declined to comment on how the deal will impact its 800 employees in St. Paul.
Spokesman Joe Thornton told Twin Cities Business at that time that "Lawson's presence in St. Paul will remain at 380 Saint Peter Street."
Thornton on Wednesday told the Star Tribune that the majority of Lawson employees worldwide and in St. Paul will be retained. The layoffs affect Lawson management and other staff "and reflect redundancies in certain functions," he told the Minneapolis newspaper.
St. Paul Mayor Chris Coleman told the Star Tribune that the number of local layoffs is "certainly not in the hundreds," although he didn't provide an exact number either.
GGC Software Holdings is a holding company created by San Francisco-based Golden Gate Capital and Alpharetta, Georgia-based Infor. Under the terms of the deal, GGC bought Lawson for $11.25 per share. Lawson's shareholders approved the $2 billion sale in late June.
Lawson was one of Minnesota's 40-largest public companies based on its revenue, which totaled $124 million in its 2010 fiscal year. Shares of the company's common stock were delisted from the NASDAQ market last week.