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GoDaddy says restructuring to impact 814 employees

·1-min read
The company logo and ticker for GoDaddy Inc. is displayed on a screen on the floor of the NYSE in New York
The company logo and ticker for GoDaddy Inc. is displayed on a screen on the floor of the NYSE in New York

(Reuters) - Web hosting company GoDaddy Inc on Wednesday announced a restructuring plan that will affect about 12% of its total workforce, or about 814 employees, due to the fallout from the coronavirus crisis.

The world's largest domain registrar said the employees will either be let go or be moved to other roles and locations and will add about $15 million in pre-tax charges.

GoDaddy said it has seen a dip in demand for higher-priced, do-it-for-you services such as GoDaddy Social.

The company also expects to exceed its second quarter revenue by about 1% from its initial guidance of $790 million citing high demand for its domains and websites.

GoDaddy had 7,024 employees worldwide, as of December 2019.

(Reporting by Neha Malara; Editing by Shailesh Kuber)