From Financial Modeling Prep: 2024-07-09 17:05:00

UiPath Inc. (NYSE:PATH) saw a 7% drop in shares after announcing a plan to cut its global workforce by 10%. The Board approved this move as part of a restructuring strategy to improve operational efficiency and customer focus. The company, with 4,200 employees worldwide, aims to complete most job cuts by the end of Q1/26.

The job cuts are expected to result in costs of $15-20 million for employee termination benefits and an additional $2-5 million for lease exit and other obligations. Overall, UiPath anticipates restructuring costs between $17-25 million, with the majority being cash expenditures by Q1/26.



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