DocuSign announces 440 job cuts in efficiency drive

DocuSign has slashed six percent of its staff, or nearly 440 jobs, to enhance its financial and operational efficiency. 

The cuts mainly affect its sales and marketing departments. 

With a 7,336 workforce, the company aims to streamline operations amid challenging market conditions. 

Following the announcement, DocuSign's stock experienced a slight downturn, closing over one percent lower on Tuesday, February 6.

The restructuring effort is expected to be completed by the end of the second fiscal quarter of 2025. 

Despite these changes, DocuSign is optimistic about achieving or surpassing its targets for the fourth quarter and the fiscal year 2024, as outlined in December's guidance.