Seeking Alpha

Autodesk discloses restructuring plan

  • 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
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs