- The restructuring involves both job cuts and "the consolidation of certain leased facilities." Autodesk (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).
From other sites
Video at CNBC.com (Jul 10, 2015)
Video at CNBC.com (Mar 12, 2015)
at CNBC.com (Jan 1, 2015)
at CNBC.com (Nov 24, 2014)
Video at CNBC.com (Nov 24, 2014)
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