(Bloomberg) — DocuSign Inc. is cutting about 6% of its workforce as part of a restructuring effort after talks to sell itself appear to have stalled.
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The move will mostly affect staff in sales and marketing, the company said in a statement on Tuesday. DocuSign had 7,336 employees at the end of 2023. As a result of the layoffs, the company will incur about $28 million to $32 million in restructuring charges. The stock slipped 7.4% in premarket trading in New York.
San Francisco-based DocuSign was a pandemic darling, but has been hurt by increasing competition from Adobe Inc.s document business, and its valuation suffered as investors lost their taste for unprofitable software stocks.
The company had been in talk…
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