Sprinklr (CXM) plans reduction in force involving approximately 15% of workforce

Sprinklr (NYSE: CXM) disclosed:

As of February 6, 2025, Sprinklr, Inc. (the “Company”) expects its results for the quarter and fiscal year ended January 31, 2025 to be in-line with or above its guidance as provided in a press release issued December 4, 2024, that was previously furnished as Exhibit 99.1 to the Company’s Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 4, 2024.

These results are based on preliminary unaudited financial and other information, and subject to normal quarterly closing processes and accounting review. The Company will provide formal guidance for the quarter ending April 30, 2025 and fiscal year ending January 31, 2026 at its next earnings call, which is expected to be held in March 2025.

This information set forth under Item 2.02 of this Current Report is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section. The information shall not be deemed incorporated by reference into any other filing with the SEC made by the Company regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Item 2.05 Costs Associated with Exit or Disposal Activities.
On February 4, 2025, the Company committed to a reduction in force involving approximately 15% of its global workforce as of January 31, 2025 (the “Plan”). The Plan is intended to help position the Company for long-term success by realigning employee costs with the current business and freeing up capital for incremental investments. The Company expects that these incremental investments will include hiring in key strategic areas, notably additional go-to-market resources to grow its core products and R&D resources to harden its Service product.
The Company estimates that it will incur non-recurring charges of approximately $25 million in connection with the workforce reduction under the Plan, consisting of severance payments, notice pay (where applicable), employee benefits contributions and related costs, and stock-based compensation. The Company expects that the majority of the restructuring charges will be incurred in the first and second quarters of fiscal 2026 and that the implementation of the workforce reduction, including cash payments, will be substantially complete by the end of the third quarter of fiscal 2026.

Potential position eliminations are subject to legal requirements that vary by jurisdiction, which may extend this process beyond the third quarter of fiscal 2026 in certain cases.

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