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 ...

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 ...

01/04/2026

SVG New Sponsor Spotlight: Flowstate AI's Sahil Shah on Transforming Video Content with Intelligent AI Agents

As sports media organization continue to seek out new ways to streamline their p...

01/04/2026

SVG GFX Forum 2026: Sessions Now Available to Watch on SVG PLAY

The SVG GFX Forum hit New York City earlier this month for a day packed with sessions focused on the creative strategy and technology behind today's cutting...

01/04/2026

From Buenos Aires to Mexico City, EQUAL Days Bring Latin America Together for Women in Audio

This year, Spotify celebrates the five-year anniversary of EQUAL, our global pro...

01/04/2026

FourFingers announce Tape Splice Pro plug-in

Analogue-style tape splicing in the digital domain In this era of digital recording and multiple layers of Undo, it seems that the fading art of tape splici...

01/04/2026

Zero G introduce Morphology Evolved

Latest release introduces new Orbita Engine Zero G's latest release marks the start of a new series of libraries, as well as introducing an all-new engi...

01/04/2026

Warm Audio introduce the WA-8TRX

Until now, one format has largely been left behind Warm Audio's extensive product range includes modern-day recreations of all manner of sought-after s...

01/04/2026

The Crow Hill Company announce Crystal Pianos

A piano with glass vessels for strings! The Crow Hill Company's recently released Gong Piano offered a refreshing new take on piano libraries, harnessin...

01/04/2026

ESSENCE RS from Aim Audio

Remote Streaming Studio Condenser Aim Audio have just revealed their latest creation, the ESSENCE RS Remote Streaming Studio Condenser, which becomes the wo...

01/04/2026

Call for NFVF funding applications to attend Film Festivals and Markets taking place from 08 - 31 May 2026

The National Film and Video Foundation (NFVF) is pleased to announce that the ca...

01/04/2026

AgileTV powers Liwest's next-generation TV experience with the launch of next IPTV platform in Austria

Bilbao, April 1st, 2026 - AgileTV, a leading provider of end-to-end TV technolog...

01/04/2026

Green Hippo Debuts Hands on Hippotizer Media Server Train...

Green Hippo is excited to announce the launch of its new Hippotizer Media Server training courses at Pixel Academy, a purpose built AV learning hub combining ha...

01/04/2026

TAG Video Systems and Oracle Cloud Infrastructure Partner...

TAG Video Systems, a global leader in IP-native broadcast monitoring, multiviewing, and quality control, today announced a collaboration with Oracle Cloud Infra...

01/04/2026

Professional Wireless Systems PWS Takes on Intercom and R...

Professional Wireless Systems (PWS), a leading provider of wireless audio solutions and RF management, was on site at the Caesars Superdome in New Orleans, wher...

01/04/2026

AgileTV powers Liwest next generation TV experience with...

AgileTV, a leading provider of end-to-end TV technology solutions, has deployed next , the new IPTV platform of the Austrian telco LIWEST, marking the first st...

01/04/2026

LTN and Ateme partner to deliver integrated video process...

LTN, a leader in fully managed IP video transport, and Ateme, a global leader in video compression and delivery solutions, today announced a collaboration integ...

01/04/2026

Adobe Unveils Powerful New Innovations for Creative Pros in Adobe Illustrator

Adobe Unveils Powerful New Innovations for Creative Pros in Adobe Illustrator Deepa Subramaniam April 1, 2026 0 Comments I'm excited to share that...

01/04/2026

Boland Communications Introduces QD4K315HDR10 QD-OLED Series Monitors for Live Production, Film, Post, and Broadcast

Boland Communications Introduces QD4K315HDR10 QD-OLED Series Monitors for Live P...

01/04/2026

2026 NAB Show Exhibitor Insight: Evertz

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

Judge Blocks Order Barring NPR and PBS From Funding

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

Nikon to Sell Mark Roberts Motion Control

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

Mediagenix Showcases Semantic Intelligence-Powered Title Management, Schedule Optimization, and Personalization at NAB 2026

Mediagenix Showcases Semantic Intelligence-Powered Title Management, Schedule Op...

01/04/2026

FCC Approves WJAX-TV License Transfer to Cox

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

Scripps Sports Ink Deal for Ion to Air 2026 Teal Rising Cup

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

UK Group Companies Unveil NAB Show Plans

Share Copy link Facebook X Linkedin Bluesky Email...

01/04/2026

Victoria Mont Brings the Multi-Hyphenate Mindset to Career Jam 2026

Victoria Mon t Brings the Multi-Hyphenate Mindset to Career Jam 2026 The Grammy-winning singer, songwriter, and producer shared how versatility and self-inves...

01/04/2026

UKTV announces expanded remit for Jonathan Newman and appoints David Swetman as Director of Content Partnerships & Sales

UKTV today announces that Jonathan Newman has formally stepped into the role of ...

01/04/2026

Rite of Spring - Save on Ivory 3 German D and American Concert D

A New Season of Expression: Save 30% On Ivory 3There are moments in music when everything changes-when new ideas break through and redefine what's possible....

01/04/2026

Binghamton University Strengthens StudentRun Productions With Riedel's SimplyLive RiMotion R12

Wuppertal April 1, 2026 Binghamton University Strengthens Student Run Producti...

01/04/2026

A Demon Falls for a Human in 'Long Vacation': Netflix Greenlights New Romance Series from Director of 'Crash Landing on You'

Back to All News A Demon Falls for a Human in Long Vacation: Netflix Greenlight...

01/04/2026

All WWE Is Now Live Only on Netflix in Italy

Back to All News All WWE Is Now Live Only on Netflix in Italy Entertainment 01 April 2026 GlobalItaly Link copied to clipboard ALL WWE IS NOW LIVE ON NET...

01/04/2026

TDF Expands Broadcast Channel Lineup with Harmonic

Harmonic's Media Processing Solutions Maximize Bandwidth Efficiency for Terrestrial Broadcast Delivery SAN JOSE, Calif. - April 1, 2026 - Harmonic (NASDAQ: ...

01/04/2026

RT and Virgin Media Television kick off comprehensive freetoair coverage of the 2026 Women's Six Nations Championship

Rugby fans won't miss a moment of the action this spring, with full Women...

01/04/2026

Bluey as Gaeilge starts on RT KIDSjr on Easter Monday

T Bluey ag teacht go RT ! Beginning on Monday 6 April 2026, Bluey will be available as Gaeilge on RT KIDSjr and RT Player. Children will be able to connect w...

01/04/2026

DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION

January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION Douyin Users Can Now Create And Share Videos With Stun...

31/03/2026

MeyerPro Delivers LED Production for Microsoft Ignite 2025

MeyerPro delivered the LED production for the Microsoft Ignite 2025 keynote at Chase Center in San Francisco, using more than 2,700 ROE Visual panels across mul...

31/03/2026

MC-IF Expands Membership to Include Smaller Technology Companies to Drive VVC Adoption

The Media Coding Industry Forum (MC-IF) is expanding membership outreach in 2026...

31/03/2026

ViewLift and MyOutdoorTV Launch Conversational AI Search

ViewLift and MyOutdoorTV (MOTV) have announced the launch of ViewLift Conversational AI Search on the MyOutdoorTV platform. The feature enables natural language...

31/03/2026

Atlanta Braves and Gray Media to Simulcast 25 Regular Season Games on Over-the-Air Television

The Atlanta Braves and Gray Media have announced a multi-year agreement to simul...

31/03/2026

Gravity Media to Deliver Broadcast Coverage of the Sydney Autumn Racing Carnival

Gravity Media has delivered broadcast services for TAB Golden Slipper Day at Rosehill Gardens on March 21 and will now cover The Star Championships at Royal Ran...

31/03/2026

Mileto Tecnologia Selects Synamedia Go for OTT Expansion

Synamedia has announced that Mileto Tecnologia, a Brazilian pay-TV operator, has selected the Synamedia Go platform for its OTT expansion. Mileto is also deploy...

31/03/2026

NAB 2026: KMH Integration to Present AV Casting Philosophy

KMH Integration will attend NAB Show in Las Vegas with a focus on what the company calls AV Casting - an approach built on the idea that professional AV and bro...

31/03/2026

Prime Video to Air First and Second Rounds of 2026 Masters Tournament

Prime Video will carry live coverage of the first and second rounds of the 2026 Masters Tournament, beginning at 1:00 p.m. ET on Thursday, April 9 and Friday, A...

31/03/2026

NHL, ESPN, TNT Sports and Sportsnet Launch Joint Marketing Campaign for 2026 Stanley Cup Playoffs

The NHL and its U.S. and Canadian broadcast partners have announced a collaborat...

31/03/2026

Daktronics to Install New Video Display and Show Control System at Wake Forest's Allegacy Stadium

Daktronics has partnered with Wake Forest to manufacture and install a new end z...

31/03/2026

NFL Announces Las Vegas to Host Super Bowl LXIII in 2029

The National Football League has announced that Las Vegas will host Super Bowl LXIII in 2029 at Allegiant Stadium. The announcement was made at the NFL Annual M...

31/03/2026

NFL Partners with TMRW Sports to Launch Professional Flag Football League

The NFL has announced a partnership with TMRW Sports to develop and operate a professional flag football league for women and men. The league will launch with i...