InvestCloud Italy, a company situated in Marghera, near Venice, has begun the process of collectively dismissing its entire local workforce of 37 employees. The decision is related to the closing of the office, the company's sole presence in Italy. The company, which specializes in technology for financial services, has officially informed Federmeccanica, the labor unions, and Confindustria Veneto Est of its plan to close its Venice location. The decision is apparently the result of a strategic reorganization by the US business that owns InvestCloud. According to the corporation, the group is transitioning to a new operating model centered on integrated technology platforms and artificial intelligence-based solutions. In this environment, autonomous local structures would no longer be part of the long-term agenda.