Needham & Company analyst Scott Berg on DocuSign (NASDAQ: DOCU): "We find the timing a bit interesting given newly announced CEO Allan Thygesen has yet to start, but we assume he was fully consulted and signed off on the plan since he will be critical in its execution. While management provided few details (we expect more on the company's 3Q earnings call), we expect the majority of the reduction will not impact client-facing or client-success functions. We are not updating our model at this time, but believe the RIF will reduce operating expenses by 4% - 5%, equating to $80mm - $100mm in annual savings or $0.39 - $0.48 per share in EPS once fully implemented."