DocuSign To Let Go 10% Of Its Workforce

by Anusuya Lahiri, Benzinga Editor

February 17, 2023 5:59 AM | 1 min read |

DocuSign, Inc DOCU prepared to slash 10% of its workforce to support its growth, scale, and profitability objectives.
DocuSign looks to incur $25 million - $35 million in connection with the restructuring.
The company would incur most of the restructuring charges in the first quarter of fiscal 2024.
DocuSign reported third-quarter revenue growth of 18% year-over-year with quarterly revenue of $645.5 million, which beat average analyst estimates of $626.88 million.
It reported Q3 EPS of $0.57, which beat average estimates of $0.42.
Big Techs, including Amazon.com Inc AMZN, Meta Platforms Inc META, and Alphabet Inc GOOG GOOGL Google have downsized by thousands bowing down to the macro uncertainties.
Price Action: DOCU shares traded lower by 0.90% at $66.05 premarket on the last check Friday.

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