Cowen Sees Faster Path to Profits for UiPath Inc. (PATH) with Restructuring, Jobs Cuts
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UiPath (PATH) to Cut 5% of Global Workforce
June 27, 2022 10:11 AM EDTIn a Securities and Exchange Commission filing, software company UiPath (NYSE: PATH) said they have approved restructuring actions to manage operating expenses, which includes an overall reduction of approximately 5% of its global workforce of approximately 4,200.
Most of the layoffs are... More
UiPath Inc. (PATH) to Cut 5% of Global Workforce, Updates Guidance
June 27, 2022 8:35 AM EDTUiPath Inc. (NYSE: PATH)
On June 24, 2022, the Board of Directors (the Board) of UiPath, Inc. (the Company) approved restructuring actions to manage its operating expenses. These actions are expected to include an overall reduction of approximately 5% of the Companys global workforce of approximately 4,200 as of April 30, 2022, with most of these reductions expected to occur by the end of the second fiscal quarter 2023. Worldwide, we expect the workforce reductions to comply with applicable laws including consultation requirements. This workforce reduction is aimed at simplifying our go-to-market approach starting with an alignment that we believe... More
