3D software company Autodesk announces 9% cuts to workforce

Autodesk forecast annual revenue and profit above Wall Street estimates on Thursday, boosted by strong demand for its design and engineering software across industries such as construction and manufacturing.

The company also said it would reduce its workforce by about 9%, representing roughly 1,350 employees, and laid out plans to invest more heavily in cloud and artificial intelligence, adding that it would reallocate resources towards those areas.

Companies across sectors such as architecture, engineering, construction, and product design are making extensive use of Autodesk’s 3D design solutions, with the software maker’s artificial intelligence and machine learning capabilities further driving spending on its products.

Autodesk saw a 23% jump in total billings to $2.11 billion in the fourth quarter ended January 31.

The company’s international operations have particularly shown strength, while analysts have also noted that the company was outpacing peers in the manufacturing sector, driven by the performance of its “Fusion” design software.

Shares of the San Francisco, California-based company were up about 2% in extended trading.

Autodesk expects full-year revenue between $6.90 billion and $6.97 billion, largely above analysts’ average estimate of $6.90 billion, according to data compiled by LSEG.

It projected an adjusted profit between $9.34 and $9.67 per share for its fiscal year 2026, also above the $9.24 per share estimated by analysts.

The company reported total revenue of $1.64 billion in the fourth quarter, up 12% from last year and above analysts’ average estimate of $1.63 billion. It posted an adjusted profit of $2.29 per share, beating estimates of $2.14 per share.

—Deborah Sophia, Reuters

View the full article