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DocuSign announces 440 job cuts in efficiency drive
https://www.whatjobs.com/news/usa/us-employment-news/docusign-announces-440-job-cuts-in-efficiency-drive
By Nithya Bose in Business News, posted February 7, 2024
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.
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Further details regarding the restructuring will be disclosed alongside the fourth-quarter financial results.
Interest in DocuSign surged in January due to potential acquisition interest from Bain Capital and Hellman & Friedman.
However, recent reports suggest acquisition discussions have hit a snag over pricing disagreements.
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