The company employed 15,700 people and earned $3.4 billion in revenue in 2016, which was a 5 percent decrease from 2015. Profits in 2015 totaled $408 million, but were reduced to $95 million in 2016. Pitney Bowes' executives said the declines were caused by "the changeover to a new U.S. enterprise-business platform — a change that disrupted short-term business, but one they have said would significantly improve the company's long-term operations." In March 2017, Pitney Bowes left the S&P 500 Index, having been listed since the stock market index was established in 1957, and joined the S&P 400.