40 job losses expected after closure of Masternaut’s European headquarters in Huntingdon
EMPLOYEES at a technology company in Huntingdon have been told the firm is closing.
But Masternaut, part of the Cybit group, has refused to comment.
Staff have told The Hunts Post that the firm was due to announce job losses – about 40 – at its base in Hinchingbrooke Business Park next month. The news comes less than a year after Masternaut was merged with Cybit by private equity firm Francisco Partners.
An employee, who has worked for the company for four years, said he believed the closure had been planned for a while.
The worker, who wished to remain anonymous, said: “It’s an insult to the people who brought Cybit up from a half-dozen people working in a shed to an international operation.
“For some of us we have suspected for sometime as decision making has been gradually withdrawn from our control, for others it was a shock.
“I’m appalled at the decision and I’ve only worked here for four years, so I can’t imagine what it’s like for those who have been working her for eight, nine or 10 years.”