Why UiPath Stock Sank Today
Shares of software company UiPath (NYSE: PATH) sank on Tuesday after the company announced a round of layoffs. As of 10:45 a.m. ET today, UiPath stock was down about 7%.
The company was already undergoing changes. In its fiscal first quarter of 2025 (ending in April), it announced that CEO Rob Enslin was being replaced by co-founder and former CEO Daniel Dines. The timing was awkward considering that Enslin had taken over sole CEO duties as recently as February.
Therefore, it was already clear that UiPath had a lot going on behind the curtain. And today, it announced it is laying off 10% of its workforce.
Source Fool.com
