Brief: Informatica Inc Announced A Plan To Reduce Its Workforce By About 450 Employees

Informatica

10/01/2023 14:36

Jan 10 (Reuters) - Informatica Inc  INFA.N :
    * INFORMATICA INC - ANNOUNCED A PLAN TO REDUCE ITS WORKFORCE
BY
APPROXIMATELY 450 EMPLOYEES
    * INFORMATICA INC - ESTIMATES THAT IT WILL INCUR
NON-RECURRING
CHARGES OF APPROXIMATELY $25 MILLION TO $35 MILLION IN
CONNECTION WITH PLAN
    * INFORMATICA INC - EXPECTS THAT MAJORITY OF THESE CHARGES
WILL BE
INCURRED IN Q1 OF 2023
    * INFORMATICA INC - IMPLEMENTATION OF PLAN WILL BE
SUBSTANTIALLY
COMPLETE BY END OF Q1 OF 2023
    * INFORMATICA INC - CHARGES ASSOCIATED WITH PLAN WILL NOT
IMPACT
FINANCIAL RESULTS OF Q4 2022
    * INFORMATICA - PLAN IS INTENDED TO BETTER ALIGN CO’S GLOBAL
WORKFORCE & COST BASE WITH ITS CLOUD-FOCUSED STRATEGIC
PRIORITIES & CURRENT BUSINESS NEEDS
    * INFORMATICA - PLAN TO REDUCE ITS WORKFORCE BY
APPROXIMATELY 450
EMPLOYEES, REPRESENTING APPROXIMATELY 7% OF THE COMPANY’S
CURRENT GLOBAL WORKFORCE

Source text for Eikon:  ID: 
Further company coverage:  INFA.N 
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