DocuSign Goes Aggressive On Cost Cuts Within A Week Of Naming Its New Chief

Anusuya Lahiri

Wed, Sep 28, 2022, 12:36 PM1 min read

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DocuSign, Inc (NASDAQ: DOCU) revealed a restructuring plan under new CEO Allan Thygesen.
DocuSign plans to cut around 9% of its workforce, entailing a charge of $30 million - $40 million, to "improve operating margin and support the company's growth, scale and profitability objectives."
The company said it should have the plan "substantially completed" by the end of its current fiscal year.
Also Read: Lyft Is Braced For More Tougher Stance As Slowdown Concerns Weigh
Last week, DocuSign named Allan Thygesen as its new CEO.
Thygesen will assume the strategic leadership of the company and a role on DocuSign's board, effective October 10.
Interim CEO Mary Agnes Wilderotter will conclude her role but will help Thygesen with a smooth transition. Wilderotter will continue serving as Chair of DocuSign's board.
Thygesen previously served as president of the Americas & Global Partners at Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL).
Price Action: DOCU shares traded higher by 4.54% at $55.02 on the last check Wednesday.

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DocuSign Goes Aggressive On Cost Cuts Within A Week Of Naming Its New Chief

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