San Rafael-based software company Autodesk said in an earnings statementTuesday that it will cut 13 percent, or nearly 1,200 jobs, in a restructuring.
An Autodesk spokesperson declined to give details on where those job cuts would be and said the company had no comment beyond what was in the earnings statement, which was released after the stock market closed. Shares of Autodesk fell more than 12 percent in after-hours trading.
Autodesk employs some 9,000 people in its offices globally, including a combined 2,000 at its San Rafael headquarters and a San Francisco office.
Autodesk makes software such as AutoCAD, which is used in manufacturing, construction, architecture and design.
Andrew Anagnost took over as CEO of the company in June. He filled a vacancy after the resignation in February of Carl Bass, who had been CEO for more than 10 years.
“As we enter the growth phase of our model transition, we need to re-balance investments to focus on our strategic priorities,” Anagnost said in a statementTuesday. “This includes divesting from some areas and increasing our investment in others.”
The job cuts are “not a cost reduction activity” as the company will keep its expenses flat this year and next, he added. In an earnings call Tuesday, he said spending should start going up in 2019, which is Autodesk’s fiscal year 2020.
Anagnost told the Business Times in an interview last week that he is leading the company through a transformation to selling its software on a subscription basis instead of through perpetual licenses, which cost more up front for customers.