Autodesk Plans to Reduce Workforce by 10%

Autodesk Inc. plans to reduce its workforce by roughly 10%, or about 925 positions, as part of an overhaul to reduce costs and accelerate its transition to a cloud and subscription-based company.

The San Rafael, Calif., company also expects to consolidate certain leased facilities, but didn't provide specific details.

Autodesk said the planned revamp isn't related to anything in the broader economy and said it expects its fourth-quarter results to be at the high end or exceed its previous guidance.

The company ended the fiscal year that closed in January "on a high note with very strong fourth-quarter billings growth and continued demand for our subscription offerings," Chief Executive Carl Bass said in prepared remarks. Solid revenues, coupled with continued cost-controls, led to better than expected adjusted per-share earnings during the quarter, Mr. Bass stated.

Autodesk plans to post restructuring-related charges of $85 million to $95 million.

The company plans to provide more details when it releases its fourth-quarter results Feb. 25.

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

February 03, 2016 11:15 ET (16:15 GMT)

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