Joining several other companies in the layoff spree is DocuSign, an e-signature software company. The firm recently announced its plans to cut around 10% of its workforce.

If media reports are to be believed, it had 7,461 employees in January 2022 before it announced an earlier round of layoffs last September that impacted 9% of its workforce. 

The company said the latest cuts will impact about 700 employees, revealed a report by CNBC. DocuSign said it is firing employees in order to support the company’s growth, scale a,nd profitability objectives.

The current plan of restructuring the company will likely be complete by the end of the second quarter. “The restructuring mainly impacts our worldwide field organisation,” a DocuSign spokesperson told CNBC.

“This action allows us to reshape the company to more effectively position us for profitable growth, while freeing up resources for investments,” added the spokesperson.