The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company’s “financial and operational efficiency,” according to a release.
The company said the majority of the employees impacted by the layoffs will be within its sales and marketing organizations. DocuSign employs 7,336 workers according to its most recent filing with the U.S. Securities and Exchange Commission, which means the cuts will affect around 440 jobs.
Shares of DocuSign tumbled more than 5% in premarket trading Tuesday.
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