Autodesk Announces Restructuring Plan to Accelerate Transition to Cloud and Subscription Business

**Public Company Information:** **NASDAQ:** **ADSK** SAN RAFAEL, Calif. — (BUSINESS WIRE) — Autodesk, Inc. (Nasdaq: ADSK) has announced a major restructuring initiative aimed at accelerating its shift to the cloud and transitioning to a subscription-based business model. This move is designed to improve efficiency, reduce costs, and better align the company’s operations with its long-term strategic goals. “Throughout our transition, we’re continuously evaluating how we can become more effective and efficient,” said Carl Bass, President and CEO of Autodesk. “To deliver maximum value for both customers and shareholders, we are restructuring to focus resources on areas that will drive our cloud and subscription strategy forward.” As part of the plan, Autodesk expects to reduce its workforce by approximately 10%, or around 925 positions, in the near term. The company also plans to consolidate some leased facilities. These actions are expected to generate cost savings in fiscal 2017 and beyond, with a portion of the savings being reinvested into critical areas of the business. The company anticipates pre-tax charges of $85 million to $95 million related to the restructuring. In addition, Autodesk is confident it will meet or exceed its guidance for billings, revenue, non-GAAP EPS, and net subscription additions for the fourth quarter of fiscal 2016. “The restructuring is not tied to any macroeconomic factors,” Bass added. “We ended fiscal 2016 with strong performance, including robust billings growth and continued demand for our subscriptions. Solid revenues and disciplined cost management led to better-than-expected results during the quarter.” More details about the financial performance and the restructuring plan will be shared during Autodesk’s scheduled earnings call on February 25, 2016. **Earnings Conference Call and Webcast** Autodesk will host its quarterly conference call on February 25 at 5:00 p.m. ET. The live webcast will be available at [http://www.autodesk.com/investors](http://www.autodesk.com/investors). A replay of the call will be available from 7:00 p.m. ET on the same day and will remain online for at least 12 months. **Safe Harbor Statement** This press release includes forward-looking statements that involve risks and uncertainties. These statements relate to expectations for the company’s financial results, future operations, restructuring charges, cost savings, and other strategic initiatives. Actual results may differ materially due to various factors, including the success of the business model transition, market conditions, and other economic and operational risks. For more information, please refer to Autodesk’s filings with the SEC. **About Autodesk** Autodesk empowers people to imagine, design, and create a better world. From professionals to students and hobbyists, Autodesk software helps users unlock their creativity and solve real-world challenges. Learn more at [autodesk.com](http://autodesk.com) or follow @autodesk on social media. *Autodesk and the Autodesk logo are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and affiliates in the U.S. and other countries. All other brand names, product names, or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, specifications, and pricing at any time without notice and is not responsible for typographical or graphical errors that may appear in this document.* © 2016 Autodesk, Inc. All rights reserved. **Contact:** Autodesk Press Contact: Noah Cole, +1-415-580-3535 noah.cole@autodesk.com Investor Contact: David Gennarelli, +1-415-507-6033 david.gennarelli@autodesk.com

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