UiPath Inc. (NYSE:) has announced plans to cut about 10% of its global workforce, according to a new filing with the SEC.
UiPath, which was approved by the board on Monday, said the move is part of a restructuring strategy to improve operational efficiency and customer focus.
UiPath employs approximately 4,200 people worldwide and aims to complete most of these reductions by the end of the first quarter of fiscal 2026.
“The company estimates that it will incur costs of $15 million to $20 million related to employee severance payments and approximately $2 million to $5 million related to lease termination and other contractual costs,” the filing said.
“Total expected restructuring costs of approximately $17 million to $25 million are expected to be primarily cash expenses and are expected to be incurred in the first quarter of fiscal 2026.”
The company’s shares rose 0.8% in premarket trading on Tuesday.
