Autodesk Inc. CEO Andrew Anagnost was in an interview with Bloomberg TV on April 25, 2023 in London, UK.
Chris Ratcliffe | Bloomberg | Getty Images
Design software manufacturer Autodesk It will lay off 1,350 employees, which will account for 9% of its workforce, said Thursday.
After the cuts, there has been a series of large-scale reductions in the entire technology industry. January Yuan Said Will let go 5% of workers earlier this month Working Daysells human resources and financial software, Announce Reduced by 8.5%. In November, chip maker AMD Say it Liberate 4% of employees. Google also announced this week that it cuts its relationships and cloud divisions, CNBC Report.
“Our GTM model has grown significantly every year from transition to subscription and multi-year contracts,” CEO Andrew Anagnost wrote in a CEO. memorandum To the employees. “These changes allow us to better meet the evolving needs of our customers and channel partners. To fully benefit from these changes, we are beginning a transformation to our GTM organization to increase customer satisfaction and Autodesk productivity.”
Anagnost wrote that the company is also conducting layoffs to remain competitive in the current economy and protect the company’s leadership in cloud computing and artificial intelligence.
San Francisco-based Autodesk will also reduce facilities. A spokesperson told CNBC in an email, but it will not close any offices. It expects pre-tax restructuring costs of $135 million to $135 million.
The company also announced on Thursday that it exceeded expectations Fourth quarter results. The company had $1.64 billion in revenue to adjusted earnings per share of $2.29, up 12% year-on-year. Analysts surveyed by LSEG have been looking for revenue of $2.14 per share and $1.63 billion.
In the first quarter, Autodesk called for adjusted revenue per share of $2.14 to $2.17, with revenue of $1.6 billion to $1.61 billion. Analysts who voted for LSEG expect revenue of $2.08 and $1.598 billion per share.
Management sees adjusted earnings per share for fiscal 2026 from $9.34 to $9.67, with revenue of $68.95 billion to $6.965 billion. LSEG consensus is $9.24 per share, with revenue of $69.02 billion.
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