Brief: Toast Says Restructuring Plan Includes A Reduction In Force Expected To Impact About 550 Employees

Toast

15/02/2024 21:43

Feb 15 (Reuters) - Toast Inc  TOST.N :
    * TOAST INC -  ON FEBRUARY 13, 2024, TOAST’S BOARD OF
DIRECTORS
APPROVED A RESTRUCTURING PLAN
    * TOAST INC - ON FEBRUARY 13, 2024, COMPANY'S BOARD OF
DIRECTORS (
"BOARD") APPROVED A RESTRUCTURING PLAN
    * TOAST INC - RESTRUCTURING PLAN INCLUDES A REDUCTION IN
FORCE
WHICH IS EXPECTED TO IMPACT APPROXIMATELY 550 EMPLOYEES
    * TOAST INC -  REDUCTION IN FORCE THAT IS EXPECTED TO IMPACT
APPROXIMATELY 550 EMPLOYEES
    * TOAST INC: ON FEBRUARY 13, 2024, TOAST’S BOARD OF
DIRECTORS
AUTHORIZED A SHARE REPURCHASE PROGRAM OF UP TO $250 MILLION OF
ITS CLASS A COMMON STOCK
    * TOAST INC - EXPECTS TO COMPLETE RESTRUCTURING PLAN BY END
OF
FISCAL YEAR 2024
    * TOAST INC - AS PART OF RESTRUCTURING PLAN, COMPANY EXPECTS
TO
INCUR RESTRUCTURING AND RESTRUCTURING-RELATED CHARGES OF
APPROXIMATELY $45 TO $55 MILLION
    * TOAST INC - SUBSTANTIALLY ALL OF THE CHARGES ARE EXPECTED
TO BE
INCURRED IN Q1 OF FISCAL YEAR 2024
    * TOAST INC - RESTRUCTURING PLAN INCLUDES CERTAIN OTHER
ACTIONS TO
REORGANIZE COMPANY'S FACILITIES AND OPERATIONS
    * TOAST INC: SEES FY 2024 ADJUSTED EBITDA IN THE RANGE OF
$200
MILLION TO $220 MILLION
    * TOAST INC: SEES FY 2024 NON-GAAP SUBSCRIPTION SERVICES AND
FINANCIAL TECHNOLOGY SOLUTIONS GROSS PROFIT IN RANGE OF $1,300
MILLION TO $1,320 MILLION

Source text for Eikon:  ID:n0001650164-24-000069 
Further company coverage:  TOST.N 

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