UiPath, the first Romanian startup to be listed on the New York Stock Exchange, has announced plans to lay off 420 employees, representing 10% of its global workforce. This move aims to streamline operational costs and enhance efficiency. The company’s Board of Directors communicated the restructuring decision to investors, highlighting a renewed focus on operational efficiency and customer relations.
The layoffs began on July 1, with the majority expected to be completed by the end of the first quarter of the fiscal year 2026. UiPath anticipates incurring costs between $15 million and $20 million in severance payments and an additional $2 million to $5 million for terminating certain lease agreements. However, these costs may vary due to different legal requirements in UiPath’s jurisdictions.
“These changes reflect efforts to reshape the organization by streamlining the company structure, particularly in operational and corporate functions, better prioritizing our marketing investments, and focusing our research and development investments on artificial intelligence and promoting innovation within our platform,” the company stated.
In its latest financial results, reported at the end of May, UiPath disclosed revenues of $335 million and a net loss of $28 million, falling short of analysts’ expectations. Additionally, Daniel Dines has resumed his role as CEO five months after stepping down to serve as Chief Innovation Officer.
