DocuSign Will Lay Off Approximately 440 Workers, Or 6% Of Its Workforce

(CTN News) – As part of a restructuring plan announced by DocuSign on Tuesday, the company announced that it will cut 6% of its workforce. According to the company’s release, the plan aims to improve the company’s financial performance and operational efficiency.

There have been layoffs within the sales and marketing organizations of the online signature provider, according to the company, and most of those employees will be affected by the layoffs.

It has been reported that the company employs 7,336 people, according to the most recent filing the company made with the United States Securities and Exchange Commission (SEC), which means that the company will lose 440 jobs as a result of the cuts.

There was a drop of over 6% in shares of DocuSign Tuesday morning, according to Marketwatch.

This announcement was made in a press release issued by DocuSign, which stated the restructuring plan will be largely completed by the end of DocuSign’s second fiscal quarter of 2025.

In its press release of December, the company stated that it expects to “meet or exceed” its guidance for the fourth quarter and fiscal year 2024, which it outlined in a release at the end of last year.

At the time of the company’s announcement of its fourth-quarter results, the company said that more details about the restructuring will be provided.

The online signature provider DocuSign experienced a boom in its shares in January, as reports surfaced that Bain Capital & Hellman & Friedman were in a bidding war for the company. According to Reuters, there have reportedly been disagreements over deal price between the two firms and the company at the moment, halting talks between the two.

The Disruptor 50 list of 2024 is now accepting nominations. This list is one of our annual looks at the companies that are using breakthrough technology to transform industries in a positive way. Nominations must be submitted by Friday, February 16th at 5 p.m.

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