nCino cuts 7% of workforce as it talks up AI opportunities

“Finally, I must also share that we have made the decision to reduce the size of our global nCino team by approximately 7%,” Desmond said in the email. “This was a necessary decision as we continue to transition nCino into a high-performing business focused on long-term, sustainable growth.

Desmond, who was named CEO in March and succeeds longtime executive Pierre Naudé, thanked the 100-plus workers who were laid off for their contributions.

In his email, he also said that 2025 has brought “a great deal of change, and while not always comfortable, change is an inherent part of working in a rapidly evolving industry like ours. Change is also necessary to WIN in the vertical AI opportunity, and, as we look ahead, I ask you to keep these things in mind:

• We have a competitive moat that is unmatched in the industry and will continue to expand. I am incredibly confident in the opportunities in front of us and am committed to prioritizing initiatives that drive maximum value.
  
• nCino is a technology company. We must embrace AI and make it work for us by leveraging the inefficiencies it can bring to our company and our customers.
  
• The energy at nSight validates the opportunity in front of us as we turn our vision for a new era in intelligence into a tangible reality.”

Sources told HousingWire that sales and marketing staff didn’t appear to be affected much by the cuts, although engineers were.

In a statement provided to HousingWire, nCino spokesperson Natalia Moose said the company “continuously evaluates our organizational structure to optimize operations and drive efficiency across the business.”

Moose said that nCino is providing support to departing employees and that the strategic adjustments “position us to accelerate innovation in the products and services our customers rely on.”

The company announced a new AI-powered solution for its nCino platform at its nSight conference last week. This includes continuous credit monitoring, quick quotes with banking advisers, onboarding, document validation and mortgage advisement.

The layoffs at nCino are the most recent to hit the mortgage tech industry. HousingWire reported earlier in May that Dark Matter Technologies, a Constellation Software company, laid off roughly 70 people, including many longtime employees.