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DocuSign lays off 6% of workforce as reported private equity takeover talks stall

DocuSign has revealed that it's laying off 6% of its workforce, impacting some 400 employees -- its third round of layoffs in 18 months.

The announcement comes as amid growing rumors that DocuSign was the target of a $13 billion takeover bid, with private equity firms Bain Capital and Hellman & Friedman reportedly jostling for the deal — however, Reuters reported yesterday that their interest had cooled after failing to reach an agreement on the fee. As with many companies during the pandemic, DocuSign’s fortunes soared due to the sudden push toward remote everything, hitting a market cap of more than $60 billion in 2021. But reality finally hit as the world transitioned back to something close to normality, with DocuSign’s valuation nestling closer to its pre-pandemic level in around the $10 billion mark.

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