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UiPath cuts 10% of workforce. The stock is falling 7% in the day of announcement.

10 iulie 2024

The company is laying off workers as part of a restructuring plan to manage operating expenses, according to a filing with the Securities and Exchange Commission.

UiPath’s layoffs will be somewhat gradual. Management expects to finish in the fiscal first quarter of 2026, which is one year away.

Considering it has around 4,200 employees, laying off 10% of the workforce is substantial. The company expects it to cost up to $25 million in restructuring costs.

Financial guidance from UiPath’s management implies (just) 8% year-over-year growth in fiscal 2025. But the stock is down again because the layoffs could imply that its growth won’t even be as good as its modest guidance.

„It’s possible. But it’s also possible that Dines is returning as CEO merely to get the company he helped found back on track for the long haul. Investors might not have clarity until August, when it’s expected that UiPath will report financial results for its fiscal second quarter.” – according to Yahoo Finance.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:

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In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?