Innodata Shares Fall More Than 25% Tuesday.

Innodata shares fell more than 25% Tuesday, Oct. 27, a day after employee accounts placed the India job cuts at nearly 550, erasing about $500 million in market value during one session.

Innodata has not publicly confirmed the nearly 550 figure. For the three months ended June 30, 2026, its largest customer accounted for roughly 37% of revenue and its second-largest customer accounted for 34%, or about 71% combined. Those revenue figures cover the quarter ended June 30, nearly four months before the Oct. 26 end date in the notice.

A termination notice to one employee set Oct. 26 as the end date and cited a “ramp-down of the business assignment.” It did not identify the customer or quantify the reduction.

Innodata labels data and conducts safety tests for AI labs. Its third-quarter 2026 results are scheduled for release after the market close Nov. 5, followed by an investor call at 5 p.m. ET (22:00 UTC).