- The restructuring involves both job cuts and "the consolidation of certain leased facilities." Autodesk (NASDAQ:ADSK) isn't disclosing how many jobs will be affected, but does say it expects to record pre-tax charges of $15M-$20M, all of which will result in cash expenditures. (8-K)
- The disclosure comes a month after Autodesk provided soft FQ3 (Oct. quarter) guidance to go with an FQ2 beat. Shares nonetheless rallied afterwards, thanks to enthusiasm over rising cloud/subscription sales (has the effect of pushing out near-term revenue).
- There's a good chance some of the job cuts are related to the company's Platform Solutions & Emerging Business and Media & Entertainment units (sales -9% and -11% Y/Y in FQ2, respectively).