In a strategic move that it hopes will trim millions of dollars off its expense line, design software purveyor Autodesk this week announced a major restructuring that will cost one in 10 employees their jobs.
The decision comes as Autodesk braces for what its own forecasts say will be a grim quarter, with sizable year-over-year sales declines and a quarterly loss to boot.
The workforce reduction will affect approximately 750 employees, the company announced this week. Other restructuring measures will include the consolidation of some facilities as well as previously announced travel restrictions, a hiring freeze, and “other reductions in [Autodesk’s] operating expenses,” according to a statement. An Autodesk spokeswoman said the cuts would take place immediately and will be spread across the company, with all divisions and locations proportionately affected.
Autodesk joins Oracle, Epicor, and a host of other technology vendors in cutting its workforce to cope with a punishing economy.