Autodesk announced a restructuring plan on Jan. 15 which includes cutting 750 jobs, or 10% of its staff.
The company also lowered its fourth-quarter revenue outlook to between $475 million and $500 million, down from the $536 million forecast by analysts.
Besides cutting 750 jobs, the San Rafael, Calif.-based company said it plans to consolidate certain facilities. The company has already implemented a hiring freeze and imposed restrictions on business travel.
Autodesk, a leader in the field of 2D and 3D computer design software, said it expects the cost-cutting moves will result in pre-tax savings of some $130 million a year starting in fiscal 2010.
"Global economic conditions continue to impact our end-user demand," said Carl Bass, Autodesk's CEO. "Given the current uncertainty of the economic environment, the cost savings initiatives we are implementing are prudent."
Yahoo!'s new CEO Bartz served as president, chairman and CEO of Autodesk from 1992 to April 2006 when she became executive chairman of the company. She was named on Jan. 13 to replace Yahoo! founder Jerry Yang as CEO of the Internet company.
Copyright Agence France-Presse, 2009
