Brief: Zuora Inc Says, On November 30, 2022, Zuora Committed To A Workforce Reduction Plan, Impacting 11% Of Workforce - Filing

Zuora

06/12/2022 21:36

Dec 6 (Reuters) - Zuora Inc  ZUO.N :
    * ZUORA INC - ON NOVEMBER 30, 2022, ZUORA COMMITTED TO A
WORKFORCE
REDUCTION PLAN, IMPACTING 11% OF WORKFORCE
    * ZUORA INC - EXPECT TO INCUR CHARGES OF ABOUT $9.5 MILLION
CONSISTING PRIMARILY OF TERMINATION BENEFITS TO IMPACTED
EMPLOYEES
    * ZUORA INC - EXPECT SUBSTANTIALLY ALL OF THE CHARGES TO BE
CASH
EXPENDITURES
    * ZUORA INC - RECOGNIZED $3.7 MILLION OF THE CHARGES IN Q3
OF
FISCAL 2023
    * ZUORA INC - EXPECT TO RECOGNIZE SUBSTANTIALLY ALL OF
REMAINING
CHARGES IN Q4 OF FISCAL 2023

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