E-signature giant DocuSign announced Tuesday it is cutting 6% of its workforce, or about 400 employees, becoming the latest tech company to reduce operating costs by trimming headcount.
- DocuSign CEO Allan Thygesen called the layoff a “painful decision” in a memo to employees.
- Employees in Seattle, where DocuSign was originally founded and still has a sizable presence, were among those laid off, according to posts on LinkedIn.
- The company did a separate layoff in February 2023, cutting 10% of its workforce, and another cut in September 2022.
- DocuSign shares were down more than 4%. Its stock spiked last month following reports that the company was in acquisition talks, which have now reportedly stalled.
