The Montreal-based software developer announced a restructuring plan last week (15 January) intended to reduce annual operating expenses and save approximately $130 million before tax starting in fiscal 2010.
As part of the plan, Autodesk will reduce its workforce by approximately 750 employees, representing approximately 10 percent of the company's global workforce.
When asked whether the Media division would be affected, an Autodesk spokesperson confirmed: “Yes, Autodesk Media & Entertainment (M&E) was affected by Autodesk's 10% reduction in workforce. The M&E product roadmap remains unchanged.”
On the specific subject of UK job cuts the spokesperson said: “We're not commenting on individual layoffs by geography.”
Broadcast has been told that this decision has been made in an effort to ‘respect the privacy of those involved.'
Autodesk also plans to consolidate certain facilities. The actions are in addition to the previously announced and ongoing cost reduction initiatives. These include a hiring freeze, business travel restrictions and other reductions in its operating expenses.
As a result of the restructuring, the company anticipates taking a pre-tax charge in the range of $65 million to $75 million.
“Global economic conditions continue to impact our end-user demand,” said Carl Bass, president and chief executive officer.
“Given the current uncertainty of the economic environment, the cost savings initiatives we are implementing are prudent. Autodesk has a strong cash position and leadership across multiple product sectors and geographies.
“The company has experienced several economic downturns during its 26-year history, and like before, we fully expect to emerge from the downturn stronger, more efficient, and more competitive.”
Autodesk will announce final fourth quarter financial following the close of market on 26 February 2009.