Brief: Yext Inc Plans To Reduce Size Of Company's Workforce By About 8% Of Full-Time Employees

Yext

23/01/2023 21:33

Jan 23 (Reuters) - Yext Inc  YEXT.N :
    * YEXT INC - PLANS TO REDUCE SIZE OF COMPANY'S WORKFORCE BY
APPROXIMATELY 8 PERCENT OF YEXT'S FULL-TIME EMPLOYEES
    * YEXT - IMPLEMENTED RESTRUCTURING PLAN INTENDED TO REDUCE
OPERATING EXPENSES, IMPROVE OPERATING MARGINS, & POSITION C0 FOR
PROFITABLE FUTURE GROWTH
    * YEXT INC - ACTIONS ARE EXPECTED TO RESULT IN AN
INCREMENTAL
RESTRUCTURING CASH CHARGE OF APPROXIMATELY $2 MILLION
    * YEXT INC - AFTER COMPLETING REDUCTION, EXPECTS TO HAVE
ABOUT
1,100 EMPLOYEES
    * YEXT INC - EXPECTS TO INCUR THESE EXPENSES PRIMARILY IN Q4
OF
FISCAL YEAR 2023
    * YEXT - REITERATES PREVIOUSLY ANNOUNCED Q4 AND FULL FISCAL
YEAR
2023 GUIDANCE RANGES FOR REVENUE AND NON-GAAP NET INCOME (LOSS)
PER SHARE

Further company coverage:  YEXT.N 
 ((Reuters.Briefs@thomsonreuters.com;))