E-signature company DocuSign Inc. on Thursday announced plans to let go of approximately 10% of its workforce, revealing yet another round of layoffs in the tech industry.
The decision comes after DocuSign announced plans to lay off 9% of its staff in September to reduce operating costs. The latest round of layoffs affects about 700 employees with a focus on the company’s field organization, DocuSign said in an emailed statement.
“This action allows us to reshape the company to more effectively position us for profitable growth, while freeing up resources for investments,” the statement reads.
DocuSign had nearly 7,500 employees at the start of last year, 69% of whom were based in the U.S. None were represented by labor unions, the company said in a financial statement.
The announcement is the latest example of continued layoffs in the tech industry. Tech giants like Google, Meta and Amazon have also announced layoffs in recent months.
More than 360 tech companies have laid off more than 105,000 employees so far this year, according to Layoffs.fyi, a website that has been tracking tech layoffs since March 2020.
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