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DocuSign to lay off about 700 employees

By Candorium News - Feb 17, 2023, 01:45 PM ET
Last Updated - Aug 06, 2024, 05:34 AM EDT
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DocuSign (DOCU), a leading electronic signature and cloud services provider, will lay off nearly 700 employees as part of a restructuring plan, amid growing big tech downsizing. The company with 7,450 employees on its rolls, hopes to power further growth with the retrenchment of about 10% of the company’s staff across its worldwide organization

About 10% staff of the company will be laid off across the world

DocuSign (DOCU), a leading electronic signature and cloud services provider, will lay off nearly 700 employees as part of a restructuring plan, amid growing big tech downsizing.
The company with 7,450 employees on its rolls, hopes to power further growth with the retrenchment of about 10% of the company’s staff across its worldwide organization.

The company said in a recent SEC filing that it estimates incurring most of the restructuring plan execution charges of about $25 million to $35 million in the first quarter of fiscal 2024. 

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The San Francisco, California-based company disclosed a substantial part of the restructuring plan will be completed by the second quarter of next year.

Founded in 2003, DocuSign achieved $2.1 billion in revenue in fiscal 2022 incurring a net loss of $69.98 million.

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