(Reuters) – Digital document signature product provider DocuSign Inc said on Thursday that it would cut about 10% of its workforce, its second round of layoffs in five months.
The company, which has seen slower growth in 2022 after a pandemic boom, announced a 9% job reduction in September.
After a 200% gain in its stock price in 2020, the pandemic darling’s shares fell by nearly a third in 2021 and by 64% last year.
DocuSign expects to take charges of $25 million to $35 million on the restructuring plan, with the majority being incurred in the quarter ending April 30.
As of Jan. 31, 2022, the company had 7,461 employees, according to a regulatory filing.
(Reporting by Akash Sriram in Bengaluru; Editing by Anil D’Silva)
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