It looks like new Autodesk president and CEO Andrew Anagnost is practicing what his company preached earlier this month at Autodesk University 2017, where he promised to help builders do “more, better, with less.” The San Rafael, Calif.–based software company announced in its third quarter earnings statement yesterday that it will cut nearly 1,200 jobs (13 percent of the company) as part of a restructuring plan. Formerly the chief marketing officer, Anagnost began his new role in June.

“We’re experiencing healthy trends in several key transition metrics, including ARR and deferred revenue growth, as customers continue to embrace our new subscription offerings,” Anagnost said in a press release. “As we enter the growth phase of our model transition, we need to re-balance investments to focus on our strategic priorities. This includes divesting from some areas and increasing our investment in others. We’re taking this restructuring action from a position of strength.”

The company, which employs upward of 9,000 people worldwide, upholds that this is “not a cost reduction activity” and asserts that it will maintain spending this and next year. Autodesk will, however, “consolidate certain leased facilities,” according to the earnings statement. It has not been announced where the anticipated cuts will be made.

Autodesk most recently moved its Toronto office into the new MaRS Discovery District innovation hub space.

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