UiPath plans to cut about 10% of its workforce, with $17 million to $25 million in costs
UiPath's board approved restructuring actions on July 8, 2024, to manage operating expenses, including an overall reduction of about 10% of its global workforce of approximately 4,200 as of July 1, 2024. The company expects the company's costs to total about $17 million to $25 million, mostly in cash, to be incurred by the first quarter of fiscal year 2026, and says actual amounts may differ materially.
- Workforce reduction of about 10% from approximately 4,200 employees as of July 1, 2024, mostly completed by the end of the first quarter of fiscal year 2026
- Estimated costs of $15 million to $20 million for employee termination benefits and $2 million to $5 million for lease exit and other contractual costs
- Total anticipated restructuring costs of about $17 million to $25 million, predominantly cash expenditures
- Cuts focus on operational and corporate functions, with more investment in artificial intelligence research and development