DocuSign To Slash Approx. 6% Of Headcount; To Take $28 Mln-$32 Mln Charges; Stock Down In Pre-Market

(RTTNews) - Software company, DocuSign, Inc. (DOCU), Tuesday announced that it would reduce around 6 percent of its staff, especially in sales and marketing divisions, to better financial and operational efficiency. Under the plan, the company would incur expenses majorly during the first quarter of 2025, such as severance benefits, employee costs, and other related costs, of around $28 million to $32 million.

In the pre-market activity, DocuSign is sliding 6.50 percent, to $49.75 over the previous close of $53.21 on the Nasdaq.

The restructuring plan is expected to be completed by the end of 2025, the company stated.

Also, the San Francisco-based company said that it expects to meet or exceed its financial outlook for fourth quarter and fiscal year 2024, where it anticipates revenue of $696 million to $700 revenue for fourth quarter and revenue of $2.74 billion to $2.75 billion for full year 2024.