Yext cuts 8% of workforce, expects ~1,100 employees; reiterates FY2023 guidance

Yext, Inc.

Workforce reduction of 8% of full-time employees, targeting ~1,100 staff vs. over 1,400 at start of FY2023.
Restructuring charge of ~$2M for severance and benefits, primarily in Q4 FY2023.
Reiterates previously issued Q4 and full-year FY2023 revenue and non-GAAP net income per share guidance.
Plan aims to streamline sales and customer services, remove management layers to industry best practices.

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