DocuSign to lay off 6% of workforce, or about 440 jobs
Publishing timestamp: 2024-02-06 12:47:03
Summary
DocuSign announced that it will be cutting 6% of its workforce as part of a restructuring plan to improve the company's financial and operational efficiency. The majority of the layoffs will be within the sales and marketing organizations. The company's shares tumbled more than 6% following the announcement. The restructuring plan is expected to be largely complete by the end of the second fiscal quarter of 2025, and the company expects to meet or exceed its fourth-quarter and fiscal-2024 guidance. More details about the restructuring will be shared when the fourth-quarter results are released. Talks between potential buyers and the company have reportedly stalled over disagreements on the deal price.
Sentiment: NEGATIVE
Tickers: DOCU,
Keywords: enterprise, breaking news: business, breaking news: technology, internet, docusign inc, business news, layoffs, technology, media,
Source: https://www.cnbc.com/2024/02/06/docusign-to-lay-off-6percent-of-workforce-or-about-440-jobs.html