DocuSign Lays Off 10% Of Its Workforce, Or 700 People

(CTN News) – It is estimated that DocuSign had 7,461 employees in January 2022 before it announced an earlier round of layoffs in September, which affected 9% of the company’s workforce.

The company has confirmed that the latest cuts will have an impact on about 700 employees in the company.

To support the company’s growth, scale, and profitability objectives, DocuSign has announced it is reducing its workforce in order to make the company more efficient.

In the first quarter of fiscal 2024, as a result of the layoffs, the company will take an impairment charge of approximately $25 million to $35 million. This is the result of an impairment charge.

As a result of the restructuring plan, it is likely that the company will be able to complete the project by the end of the second quarter.

As a result of rising interest rates and a slowing consumer demand, a growing number of technology companies are laying off their workers.

This is due to rising interest rates and a slowing economy. In light of fears of a recession and the need to cut costs in order to survive, DocuSign has joined the list of companies that have laid off employees.

Twilio announced on Monday that it would be cutting 17% of its workforce, or about 1,500 jobs. Amazon Meta, Google and Salesforce have also announced substantial reductions in their respective workforces in the past few months.

In an interview with a spokesperson for DocuSign, it was revealed that the restructuring would have a major impact on the company’s global field organization.

We believe that by taking this action, we are able to reshape the company in order to position it for profitable growth. In addition, we are able to free up resources to invest in the company’s future.

There was a modest increase in DocuSign shares in afternoon trading on Thursday of about 3%.

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