Autodesk has planned a big restructuring.
Autodesk, Inc., the world’s leading supplier of advanced 2D and 3D design, digital content creation has planned a restructuring. It is said that this needs to be done in order to focus resources on the move to the cloud.
Autodesk, the developer of software tools like Maya, Mudbox and the Stingray engine, has come to a decision of restructuring that will include layoffs of 925 employees.
As we progress through our business model transition, we continue to take a comprehensive look at our company to see where we can be more effective and efficient. To realize maximum value for both our customers and shareholders, and as a follow-on to previously discussed cost reduction actions, we are restructuring so we can focus resources on areas that will accelerate the move to the cloud and transition to a subscription-based business
This is 10% of current staff and it is expected that the company will benefit from that move in 2017.
To be clear, the restructuring announced today is not related to anything we are seeing in the macro-economic environment. We ended fiscal 2016 on a high note with very strong fourth-quarter billings growth and continued demand for our subscription offerings. Solid revenues, coupled with continued cost-controls, led to better than expected non-GAAP EPS during the quarter. I’m pleased we were able to deliver these results at such a critical moment in Autodesk’s transition.