DocuSign announced on Tuesday the news of cutting 6% of its workforce as part of a restructuring plan aimed at improving the company’s “financial and operational efficiency,” according to a release. This move will primarily impact employees within its sales and marketing organizations, which means around 440 jobs will be affected. Shares of DocuSign tumbled more than 6% in premarket trading on Tuesday. The company’s restructuring plan will largely be complete by the end of its second fiscal quarter of 2025, with further details to be shared when its fourth-quarter results are released.
In an attempt to strengthen its financial and operational efficiency, DocuSign has implemented a restructuring plan that will result in cutting 6% of its workforce. The move aims to improve the company’s standing in the market and enhance its effectiveness in various business areas, such as sales and marketing. This news led to a significant impact on the company’s stock, as shares of DocuSign fell more than 6% in premarket trading on Tuesday. The company expects to provide further details about the restructuring when its fourth-quarter results are released and is committed to meeting or exceeding its fourth-quarter and fiscal year 2024 guidance that it outlined in a release in December.
Earlier, DocuSign made headlines with reports of potential acquisition by companies like Bain Capital and Hellman & Friedman. However, talks between these firms and the company have stalled over deal price disagreements. This development drew attention in the business world, and the company expects to navigate through these challenging times to emerge even stronger. Stay tuned for more updates as this breaking news continues to unfold.