Yext gains on plan to sack 8% of its workforce
23/01/2023 22:49
**Shares of U.S. data management co Yext Inc YEXT.N up
~3.1% at $6.9 after the bell
** Announces plan to reduce workforce by about 8% of its
full-time employees urn:newsml:reuters.com:*:nEOL7n9JXT
** After completing reduction, expects to have about 1,100
employees vs 1,400 employees that it had in the beginning of FY
2023
** Expects job cuts to result in a cash charge of about $2
mln and expects to incur these expenses in Q4 2023
** Additionally, reiterates its previously announced Q4 and
FY 2023 guidance ranges for revenue & adj net income per share
** Shares of Yext fell 34.2% in 2022
(Reporting by Sri Hari N S in Bengaluru)
((SriHari.NS@thomsonreuters.com;))