Autodesk discloses restructuring plan

Sep. 30, 2013 4:48 PM ETAutodesk, Inc. (ADSK)ADSKBy: Eric Jhonsa, SA News Editor
  • 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).

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