DocuSign Inc. (NASDAQ: DOCU) disclosed:

On September 26, 2022, the Board of Directors (the “Board”) of DocuSign, Inc. (the “Company”) authorized a restructuring plan (the “Restructuring Plan”) that is designed to improve operating margin and support the Company’s growth, scale and profitability objectives. As part of the Restructuring Plan, the Company expects it will restructure and reduce the current workforce by approximately 9%.
The Company currently estimates that it will incur charges of approximately $30 to 40 million in connection with the Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards. The Company expects that the majority of the restructuring charges will be incurred in the third and fourth quarter of fiscal 2023, and that the execution of the Restructuring Plan will be substantially complete by the end of fiscal 2023.
Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process beyond fiscal 2023 in certain countries. The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ from the estimates disclosed above.