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DocuSign to lay off 6% of workforce
Posted on 2/6/24 at 12:19 pm
Posted on 2/6/24 at 12:19 pm
More tech and tech adjacent layoffs.
LINK
quote:
DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company’s “financial and operational efficiency,” according to a release.
The online signature provider said the majority of the employees impacted by the layoffs will be within its sales and marketing organizations. DocuSign employs 7,336 workers, according to its most recent filing with the U.S. Securities and Exchange Commission, which means the cuts will affect around 440 jobs.
Shares of DocuSign tumbled more than 6% Tuesday morning.
DocuSign said the restructuring plan will be largely complete by the end of its second fiscal quarter of 2025, according to the release. The company added that it expects to “meet or exceed” its fourth-quarter and fiscal-2024 guidance that it outlined in a release in December.
The company said it will share more details about the restructuring when its fourth-quarter results are released.
LINK
12
Posted on 2/6/24 at 12:20 pm to member12
Impossible!
The news says the economy is strong.
The news says the economy is strong.
Posted on 2/6/24 at 12:21 pm to member12
Bidenomics
Posted on 2/6/24 at 12:23 pm to member12
I would laugh if they received the termination and severance through docusign.
Posted on 2/6/24 at 12:25 pm to Commandeaux
quote:
I would laugh if they received the termination and severance through docusign.
Layoffs are never amusing. If this company is run by complete scumbags, they'll do it via email or mass zoom call.
Posted on 2/6/24 at 12:35 pm to member12
bUt ThE lAbOr MaRkEt Is StRoNg
Posted on 2/6/24 at 12:38 pm to Areddishfish
quote:
bUt ThE lAbOr MaRkEt Is StRoNg
Musk slashes jobs at Twitter, and he’s a genius cutting unnecessary bloat. Other tech companies slash jobs and it means the economy is collapsing
Posted on 2/6/24 at 12:40 pm to member12
I'm trying to figure out why docusign needs 7300 people working for them. I mean the program is written. I would think 100 people tops doing server and admin work would be plenty for a virtual signature. What else is there to do since the app does the work?
Posted on 2/6/24 at 12:54 pm to member12
In other news, we added 400,000 jobs last month. 
Posted on 2/6/24 at 1:46 pm to OU812ME2
80% of jobs in "tech" are useless, especially software only companies. I'm not an Elon fan, but after he bought twitter he fired like 80% of the employees and twitter is still running fine. My wife has a remote job with tech company based in silicon valley and she says about half of the employees of her company have the word manager in their title.
Posted on 2/6/24 at 1:50 pm to ItzMe1972
quote:
Impossible!
The news says the economy is strong.
Bloated tech firms laying off people they don't need doesn't mean the economy is weak
Posted on 2/6/24 at 1:51 pm to Joshjrn
quote:
Musk slashes jobs at Twitter, and he’s a genius cutting unnecessary bloat. Other tech companies slash jobs and it means the economy is collapsing
Yep
Most tech firms have a ton of dead weight
Posted on 2/6/24 at 1:59 pm to ItzMe1972
quote:
The news says the economy is strong.
This isn't driven by the economy. This is bloat. This is tech companies realizing they have far too many middle managers and support staff whose primary function is to make powerpoint presentations, schedule meetings, and get on zoom calls to talk about the next meeting.
This post was edited on 2/6/24 at 2:19 pm
Posted on 2/6/24 at 2:22 pm to member12
quote:
Shares of DocuSign tumbled more than 6% Tuesday morning.
quote:
DocuSign to lay off 6% of workforce
Posted on 2/6/24 at 2:23 pm to Joshjrn
It's honestly a fair point. The key difference is we had more knowledge of twitter's bloat
Posted on 2/6/24 at 2:25 pm to member12
So learning to code... is... not helping?
Posted on 2/6/24 at 2:28 pm to member12
My company doesn't even allow docusign. We have to download the document, have it physically signed, scanned and mailed back. They feel like it's more secure.
Don't ask.
Just saying that it's not terribly surprising that a company you really don't even need is laying off people when they have such a large workforce. Plus, Adobe offers a comparable solution that's likely already included in most company's Adobe license.
Don't ask.
Just saying that it's not terribly surprising that a company you really don't even need is laying off people when they have such a large workforce. Plus, Adobe offers a comparable solution that's likely already included in most company's Adobe license.
Posted on 2/6/24 at 2:30 pm to Joshjrn
quote:
That high school looks like a college campus, it is impressive.
I cannot imagine being inside your brain. Musk found that half of twitter employees were just there to create false narratives, limit views of anyone giving alternative thoughts, manually remove trending topics that were not selected, and run fake account to boost fake narratives.
When you let adults have their own discussions and free speech, you’ll find that big brother oversight is not needed.
Posted on 2/6/24 at 2:33 pm to Powerman
quote:
Bloated tech firms laying off people they don't need doesn't mean the economy is weak
Doesn't it, though? You can carry bloat if the economy is humming along. When companies have to start pinching pennies, they eliminate things like Docusign that A>nobody really needs B>has a competitor with equal or superior product likely embedded already in their Adobe suite.
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