Autodesk to Cut Staff
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Autodesk has announced their plans to reduce near-term staffing levels by 10 per cent, approximately 925 positions, amidst restructuring their operations to transition into the cloud, utilising subscription plans. As such they seek to reduce expenses and get better at streamlining the core operations.
“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,” said Autodesk president and CEO Carl Bass. “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.”
The plan is to reduce the staff by approximately 10 per cent, resulting in 925 positions, and the saved expenses are to be reinvested in areas “critical to its platform and business model transition”.
“To be clear, the restructuring announced today is not related to anything we are seeing in the macro-economic environment,” Bass said. “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.”