UiPath will reduce roughly 5% of its total workforce as a part of the company’s restructuring plan
"This is about continuing to drive sustained, profitable growth. We want to thank our departing team members—we appreciate their incredible talent and contributions in support of UiPath and our mission," the spokesperson added.
"The announcement signals PATH's increasing focus on profitability amid growing investor scrutiny on tech stocks with limited profitability & FCF." Cowen analysts said in a note to investors on Monday."It had signaled its commitment to its longer-term 20% adj EBIT target and this news reflects the first major changes put into place post its recent senior management appointments .
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