Brief: Quotient Technology Initiated Workforce Reduction Plan In Connection With Ongoing Business Transformation Efforts

Quotient Technology

16/11/2022 14:27

Nov 16 (Reuters) - Quotient Technology Inc  QUOT.N :
    * QUOTIENT TECHNOLOGY INC - INITIATED A WORKFORCE REDUCTION
PLAN
IN CONNECTION WITH ITS ONGOING BUSINESS TRANSFORMATION EFFORTS
    * QUOTIENT TECHNOLOGY INC - WILL REDUCE ITS WORKFORCE IN
UNITED
STATES, UNITED KINGDOM, AND INDIA ACROSS ALL FUNCTIONS BY
APPROXIMATELY 82 EMPLOYEES
    * QUOTIENT TECHNOLOGY INC - QUOTIENT EXPECTS THE CHARGES
WILL BE
RECOGNIZED IN Q4 OF FISCAL 2022
    * QUOTIENT TECHNOLOGY INC - ALL OF THE CHARGES ARE
CASH-BASED
    * QUOTIENT TECHNOLOGY INC - ESTIMATES WILL RECOGNIZE TOTAL
PRE-TAX
RESTRUCTURING CHARGES TO GAAP FINANCIAL RESULTS IN THE
APPROXIMATE AMOUNT OF $2 MILLION
    * QUOTIENT TECHNOLOGY INC - REPRESENTS A WORK FORCE
REDUCTION OF
ABOUT 9% OF QUOTIENT’S REGULAR FULL-TIME GLOBAL WORKFORCE
    * QUOTIENT TECHNOLOGY - WORKFORCE REDUCTION REPRESENTS A
REDUCTION
OF ABOUT FOURTEEN PERCENT OF QUOTIENT'S U.S.-BASED WORKFORCE

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