Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Quotient Technology Inc. announced a restructuring with charges of approximately $2 million affecting United States, United Kingdom, and India across all functions (approximately 82 employees).
- Type
- restructuring
- Charge
- approximately $2 million
- Affected area
- United States, United Kingdom, and India across all functions
- Headcount
- approximately 82 employees
Exact text from the filing
On November 15, 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, United Kingdom, and India across all functions by approximately 82 employees. This represents a reduction of approximately nine percent (9%) of Quotient’s regular full-time global workforce and approximately fourteen percent (14%) 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 $2 million consisting of severance and other one-time termination benefits.
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