DocuSign to lay off 10% of its workforce
E-signature software company DocuSign on Thursday announced plans to cut around 10% of its workforce.
Kass
The Docusign Inc. website on a laptop computer arranged in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
E-signature software company DocuSign on Thursday announced plans to cut around 10% of its workforce.
DocuSign had 7,461 employees in Jan. 2022 before it announced an earlier round of layoffs last September that would impact 9% of its workforce. That suggests the current reduction will impact about 680 people.
DocuSign said it is cutting employees in order to support the company's growth, scale and profitability objectives. It will take an impairment of approximately $25 million to $35 million, primarily in the first quarter of fiscal 2024, as a result of the layoffs.
The restructuring plan will likely be complete by the end of the second quarter, the company said.
This story is developing. Please check back for updates.
