DOCUSIGN, INC. (DOCU): restructuring charge disclosed in 8-K

DOCUSIGN, INC. (DOCU): restructuring charge — DocuSign announces restructuring plan to cut ~10% of workforce, incur $25-35M in charges

DOCUSIGN, INC.

Workforce reduction of approximately 10%, primarily in worldwide field organization.

Estimated charges of $25–35M for severance, benefits, and share-based vesting.

Majority of charges in Q1 FY2024; plan substantially complete by Q2 FY2024.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

DOCUSIGN, INC. announced a restructuring with charges of charges of approximately $25 to $35 million in connection with the Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice affecting worldwide field organization (restructure and reduce its current workforce by approximately 10%).

Type: restructuring
Charge: charges of approximately $25 to $35 million in connection with the Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice
Affected area: worldwide field organization
Headcount: restructure and reduce its current workforce by approximately 10%

Exact text from the filing

On February 16, 2023, DocuSign, Inc. (the “Company”) announced a restructuring plan (the “Restructuring Plan”) that is designed to support the Company’s growth, scale and profitability objectives. As part of the Restructuring Plan, the Company expects it will restructure and reduce its current workforce by approximately 10%, primarily in the Company’s worldwide field organization. The Company currently estimates that it will incur charges of approximately $25 to $35 million in connection with the Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards.

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