Search form

Autodesk’s Says Shift to Subs Will Cost 1,150 Jobs

Annualized recurring revenue for the software giant rises 24 percent over last year to $1.9 billion.

Software powerhouse Autodesk announced Wednesday a reorganization of the company that will include cutting an estimated 1,150 jobs -- about 13 percent of the company’s workforce.

The company declined to say which jobs would be cut and had no comment beyond its third-quarter earnings report, where the restructuring was announced.

The company’s annualized recurring revenue for the third quarter was up 24 percent over the same quarter last year, totaling a reported $1.9 billion. But the company says it needs to restructure as it continued its shift from selling its software -- which includes animation workhorse Maya and modeling and rendering solution 3ds Max -- on a licensed basis to a subscription model.

Prior to the start of that shift, about a year ago, the studio had laid off 925 employees in February 2016 -- about 10 percent of its staff.

Founded in 1982, the company has about 9,000 employees worldwide with more than 100 offices in 38 countries.

Source: Autodesk

Thomas J. McLean's picture

Tom McLean has been writing for years about animation from a secret base in Los Angeles.