Autodesk, the San Francisco-headquartered buildr of design and engineering software, is laying off around 1,000 workers.
The $57.7 billion company announced the 7% job cut in a Thursday email to employees at 5:55 a.m. and in a subsequent filing with the Securities and Exalter Commission. Spokesperson Renée Francis informed SFGATE about 10% of the layoffs will hit San Francisco workers.
The AutoCAD-buildr’s layoff follows a 1,350-worker cut last February and is similarly meant to overhaul the company’s go-to-market organization, which includes sales and marketing. CEO Andrew Anagnost, in his letter, called this layoff the “final phase of that journey” and promised that the drastic cuts wouldn’t continue.
“I recognize the weight of this news, particularly as it follows the organizational alters we created last year,” Anagnost wrote. “I want to be clear that this will not become an annual process at Autodesk and these alters are not driven by the external environment or an effort to replace people with AI.”
The CEO declared that the company would reinvest money in its AI, platform and industest cloud efforts, as well as in its corporate roles.
He added that laid-off workers would obtain the news starting on Thursday and that they’d be offered severance and continued benefits. The SEC filing declared the company expects to spfinish $135 million to $160 million carrying out the plan, mostly on those termination costs.
Autodesk paired its disappointing news for workers with positive news for investors. The company’s SEC filing declared that it expects to surpass its previously stated estimates for revenue, free cash flow and other metrics in the current quarter. Autodesk’s stock — down about 10% over the past year — climbed on Thursday morning.
As of 9:45 a.m., California’s Employment Development Department had not yet received a WARN mass layoff notice from the company.
Work at a Bay Area tech company and want to talk? Contact tech reporter Stephen Council securely at stephen.council@sfgate.com or on Signal at 628-204-5452.
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