UiPath to lay off 10% of workforce in companywide restructuring

UiPath to lay off 10% of workforce in companywide restructuring


Daniel Dines, Co-founder & CEO at UiPath addresses the audience during the third day of the Web Summit 2021 at Parque das Nacoes in Lisbon. 

Bruno de Carvalho | SOPA Images | Lightrocket | Getty Images

UiPath, a developer of automation software, is cutting 10% of its workforce, or about 420 jobs, as part of a broader restructuring, the company said in filing with the SEC on Tuesday.

Most of the layoffs will be implemented by the end of the first quarter of fiscal 2026, the company said. That quarter ends next April.

UiPath shares dropped about 7% on Tuesday and have now lost more than half their value this year. The Nasdaq is up 23% over that stretch. UiPath has faced a dramatic slowing of revenue growth following its IPO in 2021, which was one of the largest U.S. software offerings on record.

While UiPath reported better-than-expected fiscal first-quarter earnings in May, the company lowered its revenue guidance for the full year, and said it now expects between $1.4 billion and $1.41 billion compared with previous guidance of $1.55 billion to $1.56 billion. Its current forecast would equal annual growth of about 7.5%, down from 24% the prior year.

UiPath makes software that automates repetitive tasks. The company announced in May that CEO Rob Enslin was resigning effective June 1, and would be succeeded by co-founder Daniel Dines, who had stepped down as co-CEO in January. That move drove the stock down 30%.

UiPath said Tuesday that it expects to incur $15 million to $20 million in costs related to the layoffs, and total restructuring costs between $17 million and $25 million. The company previously announced two rounds of job cuts in 2022.

“These changes reflect efforts to reshape the organization by streamlining the Company’s structure, particularly in operational and corporate functions, better prioritizing our go-to-market investments and focusing our research and development investments on artificial intelligence and driving innovation across our platform,” UiPath said in Tuesday’s statement.

— CNBC’s Rohan Goswami contributed to this report.

Don’t miss these insights from CNBC PRO



Source

Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, says financial advisor Ric Edelman
Technology

Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, says financial advisor Ric Edelman

Four years ago, financial advisor Ric Edelman went out on a limb in saying everyone should hold cryptocurrencies. But how much? Low single digits was his recommendation. In his “The Truth about Crypto” book in 2021, Edelman said as low as a 1% allocation was reasonable. A lot has changed. This week, Edelman said financial […]

Read More
Nvidia heads for 5-day win streak as it hits record highs
Technology

Nvidia heads for 5-day win streak as it hits record highs

Jensen Huang, CEO of Nvidia, speaks during the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 11, 2025. Gonzalo Fuentes | Reuters Nvidia stock rose for a fifth consecutive day Friday as the chipmaker hovered near fresh highs and investors shook off China concerns. The […]

Read More
Quantum computing is having a moment. But the technology remains futuristic
Technology

Quantum computing is having a moment. But the technology remains futuristic

Microsoft’s Majorana 1 quantum computing chip Microsoft It doesn’t quite have the buzz of artificial intelligence, but quantum computing is having a moment of its own. Some of the most powerful institutions in the world, including Google, Microsoft, Amazon, IBM and the U.S. government, are spending many millions of dollars in a race to develop […]

Read More