SalesUS

DocuSign Layoffs

February 2023

DocuSign announced a layoff affecting 680 employees (10% of its workforce) in February 2023. The company operates in the Sales sector.

People Affected

680

Percentage

10%

Announced Date

Feb 16, 2023

About

DocuSign, the e-signature software company, announced a new round of layoffs on Thursday, planning to cut around 10% of its workforce, which equates to approximately 700 employees. This follows a previous reduction of 9% last September. The company, which had about 7,461 employees in early 2022, stated the cuts are intended to support its growth, scale, and profitability goals, with the restructuring mainly affecting its worldwide field organization. This move is part of a broader trend in the tech industry, where companies are reducing costs amid economic concerns like rising interest rates and slowing demand. DocuSign expects to incur an impairment charge of $25 million to $35 million and aims to complete the restructuring by the end of the second quarter.