Globant confirmed the closure of two offices in the country: what will happen in Mendoza and what the company said

The Argentine technology company Globant is going through a difficult time. Since it announced its first-quarter results on May 15, its shares have plummeted more than 25%, resulting in a cumulative drop of more than 50% so far this year.

This drop brought the stock's value below $100—it recently closed at $94.04—a level not seen since the 2020 pandemic.

In this context, the company announced the closure of two of its offices in Argentina, located in Ushuaia and Resistencia . According to a statement, these locations have extremely low occupancy rates and require an unjustified investment.

However, they assured that new activities will be promoted in both cities to strengthen the connection between local employees, whom they call "Globers."

The company also cleared up any concerns about possible closures at other offices across the country.

The company has an office in Mendoza —located on Gutiérrez Street near San Martín Avenue—and employees are concerned. However, there are no plans to close the office in our province for now, and only the officially announced offices have been confirmed.

Globant offers employment to professionals in Mendoza. Photo: Courtesy of Globant.

Globant offers employment to professionals in Mendoza. Photo: Courtesy of Globant.

According to the same statement, the company highlighted that during the last quarter they recorded an 8% increase in hiring and that they also completed the opening of new offices in Riyadh. "We are proud to have employees in 36 countries of 103 nationalities and continue to grow," they stated.

According to sources close to the company, the closure of the two offices in Argentina would not entail layoffs.

“Argentina is one of our most important operations, with more than 5,000 people. Globers coming together, sharing ideas, and fostering our culture is a fundamental part of Globant's history . Today, we have Globers in 140 cities, across every province in the country, and our own offices in 12 cities,” the text adds.

The unicorn's stock began to lose value after the release of its financial results in May . The company reported revenue of $611 million, below the $625 million analysts had anticipated. Furthermore, earnings per share came in at $1.50, also below the $1.60 estimate. Market confidence was finally shattered when the company revised its projections for the second quarter and full year 2025 downward.

At Globant, we continue hiring and expanding: in the last quarter, we announced 8% growth, opened offices in cities like Riyadh, and expanded projects with our most important clients around the world. As always, we are adapting the team to the needs of the business and the performance of our people.

Argentina is one of our largest operations, with more than 5,000 people. Bringing Globers together, sharing ideas, and fostering our culture is a fundamental part of Globant's history. Today, we have Globers in 140 cities, across every province in the country, and our own offices in 12 cities. All of these offices will remain open, with the sole exception of Ushuaia and Resistencia, which have extremely low occupancy rates and require an unjustifiable investment. In these cities, we will generate other activities that further foster connections between our local Globers.

We are proud to have employees in 36 countries representing 103 nationalities and continue to grow.