Autodesk cuts 750 jobs

Autodesk is aiming to save $130m annually from 2010

Leading design software provider Autodesk has joined the growing number of technology companies to cut staff, announcing today that it will reduce its workforce by 750.

The firm also warned that its fourth-quarter results would fall short of expectations, and that revenue is expected to be in the range of $475m to $500m (£326m to £343m).

Autodesk is conducting a large restructuring initiative, aiming to save around $130m (£89m) annually from 2010.

The reduction of approximately 10 per cent of the company's workforce adds to previous cost-cutting measures taken by the firm, including a hiring freeze and cuts in business travel expenses.

"Global economic conditions continue to impact our end-user demand. Given the current uncertainty of the economic environment, the cost savings initiatives we are implementing are prudent," said Autodesk president and chief executive Carl Bass.

"The company has experienced several economic downturns during its 26-year history and, like before, we fully expect to emerge from the downturn stronger, more efficient and more competitive."

The cuts follow news that former Autodesk chief executive Carol Bartz has been appointed to head up search giant Yahoo.