Quotient Technology (QUOT) will reduce its workforce in the United States across all functions by approximately 74 employees
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Quotient Technology (NYSE: QUOT) disclosed:
On July 12, 2022, Quotient Technology Inc. (“Quotient”) initiated a workforce reduction plan in connection with its ongoing business transformation efforts. Quotient will reduce its workforce in the United States across all functions by approximately 74 employees. This represents a reduction of approximately seven percent (7%) of Quotient’s regular full-time global workforce and approximately twelve percent (12%) of Quotient’s U.S.-based workforce.
In connection with this plan, Quotient estimates that it will recognize total pre-tax restructuring charges to its GAAP financial results in the approximate amount of $7 million consisting of severance and other one-time termination benefits. All of these charges are cash-based. Quotient expects that the vast majority of these charges will be recognized during the third quarter of fiscal 2022, with the remaining balance of the charges to be recognized during the fourth quarter of fiscal 2022.
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