2023-02-20 18:34:36
Article from www.ibtimes.com
Today, DocuSign, a leading eSignature and Digital Transaction Management provider, announced that it would be reducing its global workforce by 10%. The decision also came alongside the announcement that the company will now be refocusing its business strategy towards a cost efficient model that would provide the best possible outcomes for their partners and customers.
The majority of the reductions in workforce will come from non-product roles, such as those in administrative and operational functions. This means that product related roles, such as those in engineering and product management, will remain relatively unscathed by these changes.
Dan Springer, DocuSign’s Chief Executive Officer, stated that “[Their] commitment to customers and partners is as strong as ever, but [they] also must act thoughtfully and take decisive action to protect the company’s long-term success.” Springer went on to say that “[DocuSign] appreciates the commitment and contributions of their employees whose roles were impacted.”
The total cost of the 10% workforce reduction is estimated to be around $20 million, which will be allocated for extra severance, benefits, and outplacement services as well as for investments for growth and profitability.
This restructuring of the workforce is intended to ensure that DocuSign’s business model remains cost effective and efficient, while also enabling them to focus more on their core products and services. It is likely that the company will still seek to grow the business at a reasonable rate, even after the workforce reduction.
Many have praised DocuSign for their approach to restructuring their business responsibly. By providing severance packages and outplacement services for the employees affected, DocuSign has demonstrated its commitment to putting people first.