DocuSign to Cut 6% of Its Workforce as Sale Talks Stall (1)

DocuSign Inc. is cutting about 6% of its workforce as part of a restructuring effort after talks to sell itself appear to have stalled.

The move will mostly affect staff in sales and marketing, the company said in a statement on Tuesday. DocuSign had 7,336 employees at the end of 2023. As a result of the layoffs, the company will incur about $28 million to $32 million in restructuring charges. The stock slipped 7.4% in premarket trading in New York.

WATCH: DocuSign is cutting about 6% of its workforce.

Source: Bloomberg

San Francisco-based DocuSign was a pandemic darling, but has been hurt by increasing competition from Adobe Inc.’s document ...