Brief: ZipRecruiter Plans To Reduce Global Headcount By About 270 Employees

ZipRecruiter

31/05/2023 22:09

May 31 (Reuters) - ZipRecruiter Inc  ZIP.N :
    * PLAN TO REDUCE ITS GLOBAL HEADCOUNT BY APPROXIMATELY 270
EMPLOYEES
    * ZIPRECRUITER-PLAN TO REDUCE GLOBAL HEADCOUNT BY ABOUT 270
EMPLOYEES, WHICH REPRESENTS ABOUT 20% OF CO'S TOTAL NUMBER OF
EMPLOYEES PRIOR TO REDUCTION
    * EXPECTS TO COMPLETE SUBSTANTIALLY ALL OF HEADCOUNT
REDUCTION BY
END OF FISCAL QUARTER ENDING JUNE 30, 2023
    * ABOUT 50% OF IMPACTED EMPLOYEES WERE FROM COMPANY'S SALES
AND
CUSTOMER SUPPORT TEAMS
    * ZIPRECRUITER-AS RESULT OF HEADCOUNT REDUCTION, ESTIMATES
IT WILL
INCUR PRE-TAX CHARGE IN RANGE OF $7 MILLION TO $9 MILLION DURING
QUARTER ENDING JUNE 30, 2023
    * ZIPRECRUITER - ON MAY 31, IAN SIEGEL, COS CEO, AND CO
AGREED
THAT SIEGEL WOULD RECEIVE SALARY REDUCTION OF 30% OF HIS BASE
SALARY, EFFECTIVE JUNE 1
    * REAFFIRMS ITS ADJUSTED EBITDA GUIDANCE OF BETWEEN $178
MILLION
AND $192 MILLION FOR YEAR ENDING DECEMBER 31, 2023
    * REAFFIRMS ITS REVENUE GUIDANCE OF BETWEEN $167 MILLION AND
$173
MILLION FOR Q2 OF 2023
    * Q2 REVENUE VIEW $170.1 MILLION -- REFINITIV IBES DATA

Further company coverage:  ZIP.N 

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