Item 2.05. Costs Associated with Exit or Disposal Activities.

On February 16, 2023, DocuSign, Inc. (the "Company") announced a restructuring plan (the "Restructuring Plan") that is designed to support the Company's growth, scale and profitability objectives. As part of the Restructuring Plan, the Company expects it will restructure and reduce its current workforce by approximately 10%, primarily in the Company's worldwide field organization.

The Company currently estimates that it will incur charges of approximately $25 to $35 million in connection with the Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards. The Company expects that the majority of the restructuring charges will be incurred in the first quarter of fiscal 2024, and that the execution of the Restructuring Plan will be substantially complete by the end of the second quarter of fiscal 2024.

Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process further in certain countries. The charges that we expect to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ from the estimates disclosed above.

Safe Harbor Statement

Information provided in this Current Report on Form 8-K may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the Company's plans, objectives and expectations related to its Restructuring Plan, including timing and expected impacts to its financial results and business operations. For a discussion of such risks and uncertainties, see "Risk Factors" as described in the Company's Annual Report for the year ended January 31, 2022 on Form 10-K filed with the Securities and Exchange Commission (the "Commission") on March 25, 2022, the Company's Quarterly Report on Form 10-Q for the quarter ended October 31, 2022 filed with the Commission on December 8, 2022, and other reports on file with the Commission.

These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits:
Exhibit No.        Description
104                Cover Page Interactive Data File (embedded within the Inline XBRL document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses