Home Industry Autodesks Announces Plans To Lay Off 925 Of Their Employees

Autodesks Announces Plans To Lay Off 925 Of Their Employees

In a press release of Autodesk, one of the largest developers of design software, they laid out plans to restructure the company to accelerate the transition to cloud and subscription services.

These restructuring plans also include to lay off of around 10% of the companies employees.

“As we progress through our business model transition, we continue to take a comprehensive look at our company to see where we can be more effective and efficient. To realize maximum value for both our customers and shareholders, and as a follow-on to previously discussed cost reduction actions, we are restructuring so we can focus resources on areas that will accelerate the move to the cloud and transition to a subscription-based business,” said Carl Bass, Autodesk President and CEO.

Autodesk invented the famous AutoCAD design software in 1982 and since further developed the software and broadened their portfolio with the popular 123D app suite.

Bass continued, “To be clear, the restructuring announced today is not related to anything we are seeing in the macro-economic environment. We ended fiscal 2016 on a high note with very strong fourth-quarter billings growth and continued demand for our subscription offerings. Solid revenues, coupled with continued cost-controls, led to better than expected non-GAAP EPS during the quarter. I’m pleased we were able to deliver these results at such a critical moment in Autodesk’s transition.”


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