DocuSign Lays Off 6% of Staff, Sales and Marketing Roles Affected

DocuSign is eliminating approximately six per cent of its workforce, or 440 jobs.

What’s happening at DocuSign?

In a news release on Feb. 6, the online signature provider announced a restructuring plan “designed to strengthen and support [its] financial and operational efficiency.”

While more details on the restructuring will be provided when DocuSign releases its Q4 2024 results, the company said the majority of the job cuts will affect sales and marketing staff.

“[We currently expect to] incur approximately $28 to $32 million in non-recurring restructuring charges…consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards,” the release reads.

DocuSign added that it expects its restructuring plan to be “substantially complete by the end of the second quarter of fiscal 2025.”

The company employs a total workforce of 7,336 people, according to a recent regulatory filing.

Impact in Canada

It remains unclear if any Canadian employees at DocuSign have been let go in connection with the restructuring.

According to the company’s LinkedIn page, it has more than 140 workers in the country.

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