DocuSign Plans To Reduce Workforce By About 10%

(RTTNews) - DocuSign Inc. (DOCU) disclosed in a regulatory filing that it plans to reduce its workforce by about 10%, primarily in the company's worldwide field organization.

The company currently estimates that it will incur charges of approximately $25 to $35 million in connection with the restructuring Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards.

The company expects that the majority of the restructuring charges will be incurred in the first quarter of fiscal 2024, and that the execution of the Restructuring Plan will be substantially complete by the end of the second quarter of fiscal 2024.