Sony Pixel Power calrec Sony

Autodesk Announces Restructuring Plan to Accelerate Transition to Cloud and Subscription Busine

03/02/2016

SAN RAFAEL, Calif.--(BUSINESS WIRE)--Autodesk, Inc. (Nasdaq: ADSK) today announced a restructuring plan that will accelerate the move to the cloud and its transition to a subscription-based business model. Through the restructuring, Autodesk seeks to reduce expenses, streamline the organization, and reallocate resources to align more closely with the company's needs going forward.

As we progress through our business model transition, we continue to take a comprehensive look at our company to see where we can be more effective and efficient. To realize maximum value for both our customers and shareholders, and as a follow-on to previously discussed cost reduction actions, we are restructuring so we can focus resources on areas that will accelerate the move to the cloud and transition to a subscription-based business, said Carl Bass, Autodesk President and CEO.

Autodesk plans to reduce staffing levels in the near-term by approximately 10%, or approximately 925 positions, and to consolidate certain leased facilities. Autodesk expects these actions will result in additional cost savings in fiscal 2017 and beyond, while reinvesting a portion of the savings in areas critical to its platform and business model transition. The company anticipates taking pre-tax charges of $85 million to $95 million in connection with the restructuring.

Autodesk also expects to be at the high end or exceed its guidance ranges for billings, revenue, non-GAAP EPS, and net subscription additions for the fourth quarter of fiscal 2016.

Bass continued, To be clear, the restructuring announced today is not related to anything we are seeing in the macro-economic environment. We ended fiscal 2016 on a high note with very strong fourth-quarter billings growth and continued demand for our subscription offerings. Solid revenues, coupled with continued cost-controls, led to better than expected non-GAAP EPS during the quarter. I'm pleased we were able to deliver these results at such a critical moment in Autodesk's transition.

Additional details regarding the company's fourth quarter financial results and restructuring plan will be provided on the company's regularly scheduled earnings conference call to be held on February 25, 2016.

Earnings Conference Call and Webcast

Autodesk will host its fourth quarter conference call on February 25th at 5:00 p.m. ET. The live broadcast can be accessed at http://www.autodesk.com/investors. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesks website simultaneously with this press release.

A replay of the broadcast will be available at 7:00 pm ET at http://www.autodesk.com/investors. This replay will be maintained on Autodesks website for at least 12 months.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding current expectations for the Company's fourth fiscal quarter financial results, future operations and performance, including restructuring charges, related cash expenditures and the timing to recognize these charges, cost savings, future hiring, the impacts and results of our business model transition, expectations regarding the transition of product offerings to subscription, and other statements regarding our strategies, market and products positions, performance, and results. While fourth quarter guidance estimates are based on a completed financial period, the Company has not completed its financial close process and, as a result, amounts are subject to accounting adjustments and may vary. There are a significant number of other factors that could cause actual results to differ materially from statements made in this press release, including: estimates and assumptions underlying the Company's restructuring plan, estimated charges may not be realized; failure to maintain cost reductions or otherwise control our expenses; failure to successfully manage transitions to new business models and markets, including the introduction of additional ratable revenue streams and our continuing efforts to attract customers to our cloud-based offerings; the impact of non-cash charges on our financial results; fluctuation in foreign currency exchange rates; the success of our foreign currency hedging program; unexpected fluctuations in our tax rate; and any unanticipated accounting charges.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesks Annual Report on Form 10-K for the year ended January 31, 2015 and Form 10-Q for the quarter ended October 31, 2015, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

The Company's guidance for the fourth quarter of 2016 and a reconciliation of the non-GAAP financial measures that were specified therein may be found in the press release included with the Current Report on Form 8-K filed by the Company on November 19, 2015 and on the Company's website at:

http://investors.autodesk.com/phoenix.zhtml?c=117861&p=IROL-secToc&TOC=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9vdXRsaW5lLnhtbD9pcGFnZT0xMDU4OTc4NCYmZXhwPSUyNGNpayUyODc2OTM5NyUyOSthbmQrJTI4Rm9ybSs4LUslMjkmc3Vic2lkPTU3&ListAll=1

About Autodesk

Autodesk helps people imagine, design and create a better world. Everyone-from design professionals, engineers and architects to digital artists, students and hobbyists-uses Autodesk software to unlock their creativity and solve important challenges. For more information visit autodesk.com or follow @autodesk.

Autodesk and the Autodesk logo are registered trademarks o
LINK: http://news.autodesk.com/press-release/corporate-sustainability/autode...
See more stories from autodesk

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 2026

January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026 Throughout the week, Dolby brings to life the latest innovatio...

02/05/2026

Dalet Flex LTS Delivers Smarter Search, Faster Editing, and an AI-Ready Foundation for Modern Media

Dalet, a leading technology and service provider for media-rich organizations, t...

01/05/2026

NBCUniversal's Peacock to Be First Streamer to Integrate Dolby's Full Suite of Premium Picture and Sound Innovations

January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...

29/04/2026

Clear-Com Promotes Brian Grahn, Ben Turnwell to Expanded Roles

Share Copy link Facebook X Linkedin Bluesky Email...

29/04/2026

The CW Unveils Major Streaming Deals with ESPN and Roku

Share Copy link Facebook X Linkedin Bluesky Email...

29/04/2026

Clear-Com Announces New Roles for Brian Grahn and Ben Tur...

Clear-Com has appointed Brian Grahn as Market Outreach Manager of the Americas and Ben Turnwell as Business Development Manager for EMEA live, expanding their ...

29/04/2026

Reduce Workflow Complexity with nxtedition at MPTS 2026

nxtedition is bringing its range of consolidated production tools to MPTS 2026, with new developments spanning transcription, editing, graphics and AI-assisted ...

29/04/2026

Telxius taps Synamedia to unlock seamless global multi-CD...

Quortex Switch to boost the streaming experience for Telxius customers, reaching millions of viewers worldwide Synamedia and Telxius, the leading global connec...

29/04/2026

freispace and Projective Announce Joint Showcase of Integ...

freispace, the leading ERP-as-a-Service platform for media and entertainment production, and Projective, a leading provider of post-production collaboration tec...

29/04/2026

DHD Celebrates 30th Anniversary at 2026 NAB Show

DHD reports strong interest in its broadcast audio product range, exhibited at the April 19th-22nd NAB Show in Las Vegas. The event attracted a claimed 58,000 a...

29/04/2026

Student Spotlight: Alan Catz

Student Spotlight: Alan Catz The Argentine film and game composer talks about working on League of Legends, receiving Berklee's BMI Award, and the lifelon...

29/04/2026

Jay Jennings Builds the Worlds You Hear on Screen

Jay Jennings Builds the Worlds You Hear on Screen The supervising sound designer behind A Minecraft Movie, The Meg, Letters from Iwo Jima, and dozens of other...

29/04/2026

Paramount Will be 49.5% Foreign Owned After WBD Merger

Share Copy link Facebook X Linkedin Bluesky Email...

29/04/2026

NAB Show 2026: AI, Vertical and BPS Dominate Broadcasters' Discussions

Share Copy link Facebook X Linkedin Bluesky Email...

29/04/2026

IAB Tech Lab Announces New OpenRTB Attributes

Share Copy link Facebook X Linkedin Bluesky Email...

29/04/2026

Listen to the birds sing! Experience mother nature in a seven-hour radio marathon

The Dawn Chorus airs Sunday 3 May from midnight to 7am on RT Radio 1 and RT ly...

29/04/2026

April 28, 2026

Jin-Quan Yu elected to the National Academy of Sciences Yu is recognized for his pioneering work in synthetic organic chemistry. April 28, 2026 LA JOLLA, CA S...

28/04/2026

Sound for the NFL Draft Show Balances Often Conflicting Goals

The audio team for the entertainment event must blend speech intelligibility with full-range music reproduction while considering the broadcast Last week's...

28/04/2026

Pac-12 Releases New Primary Mark Ahead of 2026-27 Season

The Pac-12 Conference has released an updated primary mark and logo as the starting point of the new league's brand identity. The mark was soft-launched acr...

28/04/2026

DP World Tour to Become First Professional Sports Organization to Use Amazon Leo Satellite Connectivity

The DP World Tour and Amazon Leo have signed an agreement making Amazon's lo...

28/04/2026

Pixellot and HELIOS Announce Automated Hockey Shift Video Integration

Pixellot and HELIOS have announced an integration that automatically converts full-game hockey video into individualized shift videos for each athlete, without ...

28/04/2026

Daktronics Installs New LED Video Display at Asheville Tourists Ballpark

Daktronics has partnered with the Asheville Tourists to manufacture and install a new LED video display. The installation was completed in late 2025 and is now ...

28/04/2026

Eutelsat and PCTV Renew Long-Term Video Distribution Partnership in Mexico

Eutelsat has announced the renewal of its partnership with PCTV, a content aggregation and distribution company in Mexico and part of Megacable Holdings, for co...

28/04/2026

Gary SouthShore RailCats Install New Daktronics LED Display at U.S. Steel Yard

Daktronics has partnered with the Gary SouthShore RailCats to install a new LED video display at U.S. Steel Yard, replacing the previous Daktronics display inst...

28/04/2026

Telos Alliance and College Radio Foundation Award Omnia.11 Processor to Wright State Universitys WWSU-FM

Telos Alliance and the College Radio Foundation have announced that WWSU-FM of W...

28/04/2026

Inside the Mix: A1s Florian Brown and James Deason on Golfs Biggest Broadcasts

Golf viewership is growing. The 2025 Ryder Cup drew five million viewers in the UK, a 45% increase over the 2023 event. The US Open was the most streamed golf e...

28/04/2026

The CW Network Acquires Exclusive Broadcast Rights to WWE NXT Premium Live Events

The CW Network and WWE, part of TKO Group Holdings (NYSE: TKO), have announced t...

28/04/2026

NAB 2026: AIMS Wins NAB Show 2026 Product of the Year Award for IPMX

The Alliance for IP Media Solutions (AIMS) has announced that the Internet Protocol Media Experience (IPMX) suite of standards and specifications has been named...

28/04/2026

NAB 2026 SportsTechBuzz in Review: A Look Back at the Big News From 150+ Companies in Vegas

The 2026 NAB Show is in the books and the show once again served up a cavalcade ...

28/04/2026

Gray Media, RAJ Sports Launch New Womens Sports RSN in Portland - Rose City SportsNet

Gray Media and RAJ Sports have announced Rose City SportsNet (RCSN), a new netwo...

28/04/2026

Spotify Reports First Quarter 2026 Earnings

Today, we announced our First Quarter 2026 earnings, starting the Year of Raising Ambition with strong momentum across the business and continued innovation acr...

28/04/2026

Spotify rapporterar resultat fr frsta kvartalet 2026

I dag presenterade vi v rt resultat f r det f rsta kvartalet 2026. Vi inleder ret med starkt momentum i hela verksamheten och fortsatt innovation p plattforme...

28/04/2026

Mojave introduce the MA-C vocal mic

New handheld promises studio performance for the stage Mojave have just introduced a new live-focused handheld vocal mic created by award-winning designer D...

28/04/2026

VSTOPIA announce Dynamic Split Module for Ableton

Max for Live device offers AI-powered stem separation Dynamic Split Module (DSM) is a new Max for Live device created by Ostin Solo, a developer and musican...

28/04/2026

Focusrite unveil the ISA C8X

First interface equipped with ISA preamps Focusrite have just announced the launch of a new high-end audio interface that features a pair of their legendary...

28/04/2026

Nielsen and Triton Digital Collaborate to Bring Greater Visibility to Podcast Audiences in Nielsen's Media Impact Tool

Triton Digital's Podcast Metrics Demos+ Data Integration Enables Comprehensi...

28/04/2026

Paramount Skydance Will be 49.5% Foreign Owned After WBD Merger

Share Copy link Facebook X Linkedin Bluesky Email...

28/04/2026

KEET PBS Deploys PMVG TechBundle Services To Modernize Operations

Share Copy link Facebook X Linkedin Bluesky Email...

28/04/2026

TAG Video Systems Lens Wins Industry Awards for Cutting T...

TAG Video Systems, the leading IP-native Realtime Media Platform, today announced that Lens, its visual service health interface for broadcast operations, recei...

28/04/2026

AIMS Wins NAB Show 2026 Product of the Year Award for IPM...

Open AV-over-IP Standard Recognized in IT Networking/Infrastructure and Security Category The Alliance for IP Media Solutions (AIMS) today announced that the ...

28/04/2026

VFX History: Slit Scan

VFX History: Slit Scan Graham Quince April 28, 2026 0 Comments How did 2001: A Space Odyssey, Star Wars, Doctor Who and Star Trek: The Next Generation...

28/04/2026

These DaVinci Resolve Effects Will Make You a More Creative Colorist

These DaVinci Resolve Effects Will Make You a More Creative Colorist Kasia Jarco April 28, 2026 0 Comments Creativity in color grading is not about ha...

28/04/2026

A Simple Introduction to Cavalry: Indexed Circle

A Simple Introduction to Cavalry: Indexed Circle Simon Ubsdell April 28, 2026 0 Comments In this new introductory tutorial for Cavalry we're going...

28/04/2026

Rise Upskill - Applications Now Open for Free Global Trai...

Rise, the award-winning advocacy group for gender diversity in the broadcast and media technology sector, is pleased to announce a new global training programme...

28/04/2026

Clear Com Announces New Roles for Brian Grahn and Ben Tur...

Clear-Com has appointed Brian Grahn as Market Outreach Manager of the Americas and Ben Turnwell as Business Development Manager for EMEA live, expanding their ...

28/04/2026

LiveU Steps into the Future at MPTS 2026 with the Introdu...

LiveU is inviting MPTS visitors to step into the companys new Q Era on Stand D32, at The Grand Hall, Olympia, London (May 13-14). The company will showcase its ...

28/04/2026

IBC launches 2026 Innovation Awards to spotlight real-wor...

IBC today announces the launch of the IBC2026 Innovation Awards, with nominations now open for projects, programmes and initiatives that exemplify breakthrough ...