Yext Will Reduce Size Of Workforce By About 12% Of Full-Time Employees Compared To Headcount As Of Jan 31

Reuters
2024.06.04 20:43

Yext Inc plans to reduce its workforce by about 12% in response to evolving business needs, aiming to lower operating expenses and achieve future growth. The company expects to incur a restructuring cash charge of approximately $5 million and complete the implementation of the workforce reduction by the end of Q2 2025.

June 4 (Reuters) - Yext Inc (YEXT.N) :

  • YEXT INC - PLAN WILL REDUCE SIZE OF COMPANY’S WORKFORCE BY ABOUT 12 PERCENT OF ITS FULL-TIME EMPLOYEES AS COMPARED TO ITS HEADCOUNT AS OF JAN 31, 2024

  • YEXT-COMMITTED TO RESTRUCTURING PLAN IN RESPONSE TO EVOLVING BUSINESS NEEDS TO REDUCE OPERATING EXPENSES AND POSITION CO FOR PROFITABLE FUTURE GROWTH

  • YEXT INC - ESTIMATES THAT IT WILL INCUR AN INCREMENTAL RESTRUCTURING CASH CHARGE OF APPROXIMATELY $5 MILLION IN CONNECTION WITH PLAN

  • YEXT INC - EXPECTS TO INCUR MAJORITY OF THESE EXPENSES IN Q2 OF FISCAL YEAR 2025

  • YEXT INC - IMPLEMENTATION OF WORKFORCE REDUCTION WILL BE SUBSTANTIALLY COMPLETE BY END OF Q2 OF FISCAL YEAR 2025

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