Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Vertex, Inc. announced a restructuring with charges of approximately $6 million to $8 million (approximately 170 employees, representing approximately 9% of the Company’s global workforce).
- Type
- restructuring
- Charge
- approximately $6 million to $8 million
- Headcount
- approximately 170 employees, representing approximately 9% of the Company’s global workforce
Exact text from the filing
On April 28, 2026, the Vertex, Inc. (the “Company”) announced its Board of Directors (the “Board”) approved a global Value Creation Plan (the “Plan”) intended to become a more AI-enabled company, focus investments on key growth opportunities and drive operational efficiency to better align the Company’s workforce and resources with its long-term strategic priorities. The Plan includes a reduction in force of approximately 170 employees, representing approximately 9% of the Company’s global workforce as of April 27, 2026. In connection with the Plan, the Company estimates that it will incur aggregate pre-tax charges of approximately $6 million to $8 million, consisting primarily of cash expenditures related to employee severance, notice pay, statutory termination indemnities, and other employee separation benefits.
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