UiPath, a leading automation software company, is laying off approximately 420 employees, representing 10% of its workforce, as part of a major restructuring announced in June 2024. This move follows a significant slowdown in revenue growth post-IPO and a recent reduction in annual revenue guidance. The layoffs, primarily affecting operational and corporate functions, aim to streamline the organization and refocus investments on AI and platform innovation. This is the third round of job cuts since 2022 for the enterprise-scale tech firm, which has also seen recent executive turnover, including the return of co-founder Daniel Dines as CEO.
