Brief: Quotient Technology Initiates Workforce Reduction Plan

Quotient Technology

13/07/2022 14:28

July 13 (Reuters) - Quotient Technology Inc  QUOT.N :
    * QUOTIENT TECHNOLOGY INC - ON JULY 12, INITIATED A
WORKFORCE
REDUCTION PLAN IN CONNECTION WITH ITS ONGOING BUSINESS
TRANSFORMATION EFFORTS
    * QUOTIENT TECHNOLOGY INC - QUOTIENT WILL REDUCE ITS
WORKFORCE IN
UNITED STATES ACROSS ALL FUNCTIONS BY ABOUT 74 EMPLOYEES
    * QUOTIENT TECHNOLOGY - ESTIMATES IT WILL RECOGNIZE TOTAL
PRE-TAX
RESTRUCTURING CHARGES TO ITS GAAP FINANCIAL RESULTS IN ABOUT
AMOUNT OF $7 MILLION
    * QUOTIENT TECHNOLOGY INC - ALL OF THE CHARGES ARE
CASH-BASED
    * QUOTIENT - EXPECTS VAST MAJORITY OF THE CHARGES WILL BE
RECOGNIZED DURING Q3 2022, WITH REMAINING BALANCE OF CHARGES TO
BE RECOGNIZED DURING Q4 2022

Further company coverage:  QUOT.N 

 ((reuters.briefs@thomsonreuters.com;))