Autodesk to lay off 7% of workforce


Autodesk to lay off 7% of workforce

Software maker Autodesk is to lay off 250 employees, or 7% of its workforce, during the next six months, according to company spokeswoman Shannon Hart.

The company currently has 3,715 employees and the layoffs are expected to affect each department differently. "Fundamentally Autodesk is a strong company and continues to be an industry leader," the company said.

The news comes as Autodesk reported its earnings for its second fiscal quarter, which ended 31 July. Earnings for the quarter were $12m (£8m), or 10 cents per share, compared with $19m (£12m), or 17 cents per share, in the same period a year ago.

Excluding restructuring costs and other charges, second-quarter earnings were $15m, or 13 cents per share. Revenue for the quarter was $211m, down from the $231m in revenue the company brought in during the same period in 2001.

"Although our businesses felt varying degrees of economic softness we are pleased to deliver on our projected results," said Carol Bartz, Autodesk chairman and chief executive.

The company said net revenue for the third quarter of fiscal 2003 is expected to range from $200m to $210m, bringing the company's net revenue for the full fiscal year to between $860m and $900m.

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