Brief: Ncino Inc Announced A Workforce Reduction Of Approximately 7%

nCino

18/01/2023 21:59

Jan 18 (Reuters) - nCino Inc  NCNO.O :
    * NCINO INC - ON JANUARY 18, ANNOUNCED A WORKFORCE REDUCTION
OF
APPROXIMATELY SEVEN PERCENT (7%) AND OFFICE SPACE REDUCTIONS IN
CERTAIN MARKETS
    * NCINO INC - ACTIONS ASSOCIATED WITH OFFICE SPACE
REDUCTIONS ARE
EXPECTED TO BE FULLY COMPLETED IN FISCAL 2024
    * NCINO INC - EXPECTS TO INCUR CHARGES IN Q4 OF COMPANY'S
FISCAL
2023 OF APPROXIMATELY $4.5 TO $5.0 MILLION IN CONNECTION WITH
PLAN
    * NCINO- CASH PAYMENTS CONSISTING OF SEVERANCE & RELATED
BENEFIT
COSTS FOR TERMINATED EMPLOYEES, LEASE EXIT FEES EXPECTED TO BE
MADE IN Q1 FISCAL 2024

Further company coverage:  NCNO.O 
 ((Reuters.Briefs@thomsonreuters.com;))