DocuSign (DOCU) to cut 10% workforce

DocuSign (NASDAQ: DOCU) announced today it will cut jobs as part of its new restructuring plan.

The plan, which is designed to support the Company’s growth, scale and profitability objectives, will see DOCU cut about 10% of its global workforce, primarily in the worldwide field organization.

As a result, the company projects $25 million to $35M in charges related to restructuring. The majority of the restructuring charges will be incurred in the first quarter of fiscal 2024, DOCU added, while the restructuring plans will be “substantially complete by the end of the second quarter of fiscal 2024.”

DocuSign shares trade about 1.5% lower in pre-market Thursday.

By Senad Karaahmetovic

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