UIPath to lay off 10% of workforce in companywide restructuring
UiPath is restructuring, cutting 10% of its workforce (420 jobs) due to declining shares and revenue challenges post-IPO. The move aims to enhance operational efficiency and AI investments, incurring $15-20 million in layoff costs. CEO transition also impacted market.
Read original article
UiPath, a software developer specializing in automation, is undergoing a companywide restructuring that includes laying off 10% of its workforce, approximately 420 jobs. The majority of these job cuts are expected to be completed by the end of the first quarter of fiscal 2026. This decision comes as UiPath's shares have plummeted over 50% year-to-date, with a 7% drop on Tuesday alone. The company has faced challenges in revenue growth following its IPO in 2021, prompting a revision of its revenue guidance for the year. The restructuring aims to streamline the organization, focusing on operational efficiency, go-to-market strategies, and research and development investments in artificial intelligence. The company anticipates incurring costs of $15 million to $20 million related to the layoffs and total restructuring costs between $17 million and $25 million. UiPath's CEO transition earlier in the year also contributed to market fluctuations.
Related
Tech layoffs: 98,000 impacted as Apple, Google, others continue job cuts
The tech industry faces widespread layoffs affecting 98,000 employees globally in 2024. Major companies like Apple, Google, Microsoft, and Meta are among the 333 firms implementing job cuts due to economic uncertainties and restructuring efforts.
Layoffs in tech sector reach nearly 100k year to date
The tech sector faced significant job losses in 2023, totaling nearly 100,000 across 340 companies. Notable layoffs include ByteDance, Microsoft, Apple, Meta, Sony, Electronic Arts, Tencent, and Unity Software.
More people want to leave SAP than severance payments are planned
SAP faces challenges with job cuts as over 5,300 employees apply for early retirement or voluntary departure, exceeding expectations. Reasons include restructuring dissatisfaction, salary adjustments, and new office attendance rules.
Microsoft lays off employees in new round of cuts
Microsoft conducted layoffs impacting various teams globally, focusing on product and program management. The exact number of affected employees was undisclosed. These actions align with strategic growth priorities amid recent job cuts.
Microsoft lays off employees in new round of cuts
Microsoft conducts layoffs affecting product and program management roles without disclosing the exact number impacted. This aligns with previous job cuts, part of ongoing restructuring efforts for future growth and customer support.
0 commentsRelated
Tech layoffs: 98,000 impacted as Apple, Google, others continue job cuts
The tech industry faces widespread layoffs affecting 98,000 employees globally in 2024. Major companies like Apple, Google, Microsoft, and Meta are among the 333 firms implementing job cuts due to economic uncertainties and restructuring efforts.
Layoffs in tech sector reach nearly 100k year to date
The tech sector faced significant job losses in 2023, totaling nearly 100,000 across 340 companies. Notable layoffs include ByteDance, Microsoft, Apple, Meta, Sony, Electronic Arts, Tencent, and Unity Software.
More people want to leave SAP than severance payments are planned
SAP faces challenges with job cuts as over 5,300 employees apply for early retirement or voluntary departure, exceeding expectations. Reasons include restructuring dissatisfaction, salary adjustments, and new office attendance rules.
Microsoft lays off employees in new round of cuts
Microsoft conducted layoffs impacting various teams globally, focusing on product and program management. The exact number of affected employees was undisclosed. These actions align with strategic growth priorities amid recent job cuts.
Microsoft lays off employees in new round of cuts
Microsoft conducts layoffs affecting product and program management roles without disclosing the exact number impacted. This aligns with previous job cuts, part of ongoing restructuring efforts for future growth and customer support.