PATH - UiPath To Cut Workforce By 10% | Benzinga
UiPath, Inc. (NYSE:PATH) shares are trading lower Tuesday after the company revealed plans for restructuring actions to manage its operating expenses including a 10% workforce reduction.
The Details:
UiPath revealed in an SEC filing that its board of directors has approved restructuring actions to manage its operating expenses and will include an overall reduction of approximately 10% of the company's global workforce of approximately 4,200. The company said most of this reduction is expected to occur by the end of the first quarter of fiscal year 2026.
The company estimates it will incur costs of $15 million to $20 million related to employee termination benefits and approximately $2 million to $5 million in connection with lease exit and other contractual costs.
The total anticipated restructuring costs of approximately ...