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'First redundancies at Sheffield tech firm WANdisco' hit by potential $15m fraud

Some 20 people have reportedly been made redundant at a Sheffield tech firm hit by a potential multi-million pound fraud.
By David Walsh
Published 3rd May 2023, 12:27 GMT
Updated 3rd May 2023, 14:59 GMT
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The Star understands WANdisco employees were let go as the firm battles the fallout from the stunning revelation in March. Investigators at FRP Advisory have since confirmed income last year was $9.7m and not $24m as reported and bookings were just $11.4m not $127m.

A whistleblower said: "It’s a cost-cutting exercise in relation to the recent fraud and the situation the company finds themselves in."

A WANdisco spokesman did not comment on the redundancies.

David Richards, WANdisco co-founder and former chief executive, at the firm's headquarters in Castle House, Sheffield. Picture Bruce RollinsonDavid Richards, WANdisco co-founder and former chief executive, at the firm's headquarters in Castle House, Sheffield. Picture Bruce Rollinson
David Richards, WANdisco co-founder and former chief executive, at the firm's headquarters in Castle House, Sheffield. Picture Bruce Rollinson
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He said: “We will be looking at multiple workstreams to set the firm on the path to long term success.”

Chief executive and co-founder David Richards and chief financial officer Erik Miller resigned last month. WANdisco had a market value approaching £1bn and employed more than 180 in Sheffield and California. The firm has funded several educational schemes in Sheffield and has set up an academy to teach coding.