Quotient Technology starts layoffs; shares fall

Quotient Technology

13/07/2022 15:43

** Shares of Quotient Technology Inc  QUOT.N  down 2% at
$2.75 amid a selloff in the broader market
    ** Digital media co starts a workforce reduction plan as
part of its ongoing business transformation efforts  urn:newsml:reuters.com:*:nNDL21XWQ9
    ** Co to reduce its U.S. workforce across all functions by
74 employees, or ~7% of its full-time workforce and ~12% of its
U.S.-based workforce
    ** QUOT estimates it will recognize total pre-tax
restructuring charges of ~$7 mln
    ** Expects vast majority of the charges to be recognized in
Q3, with remaining charges to be booked in Q4     
    ** Including session's losses, shares down ~63% this year 

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((Aatrayee.Chatterjee@thomsonreuters.com;))