Autodesk Plans to Reduce Workforce by 10%
February 03 2016 - 11:30AM
Dow Jones News
Autodesk Inc. plans to reduce its workforce by roughly 10%, or
about 925 positions, as part of an overhaul to reduce costs and
accelerate its transition to a cloud and subscription-based
company.
The San Rafael, Calif., company also expects to consolidate
certain leased facilities, but didn't provide specific details.
Autodesk said the planned revamp isn't related to anything in
the broader economy and said it expects its fourth-quarter results
to be at the high end or exceed its previous guidance.
The company ended the fiscal year that closed in January "on a
high note with very strong fourth-quarter billings growth and
continued demand for our subscription offerings," Chief Executive
Carl Bass said in prepared remarks. Solid revenues, coupled with
continued cost-controls, led to better than expected adjusted
per-share earnings during the quarter, Mr. Bass stated.
Autodesk plans to post restructuring-related charges of $85
million to $95 million.
The company plans to provide more details when it releases its
fourth-quarter results Feb. 25.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
February 03, 2016 11:15 ET (16:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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