The GoDaddy Inc. logo is displayed on the floor of the New York Stock Exchange on March 4, 2019.BRENDAN MCDERMID/Reuters
Web hosting company GoDaddy Inc on Wednesday announced a restructuring plan that will affect about 12 per cent of its total work force, 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 per cent 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.
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