Amplitude, Inc. (AMPL): restructuring charge — Amplitude cuts 13% of global workforce (99 roles) to reduce costs; expects $7-9M in charges

Amplitude, Inc.

Workforce reduction of ~13% (99 roles), majority in GTM organization; charges estimated at $7-9M.
Cash expenditures of $6-8M expected; majority of charges in Q2 2023, substantially complete by end of Q2.
Severance: at least 16 weeks salary in US; international employees on payroll until June 15; healthcare through June 30.
CEO cites macroeconomic headwinds and customer challenges as reasons for the reduction.
Equity vesting through June 15; career support and IT equipment retention for impacted employees.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.98

Amplitude, Inc. announced a restructuring with charges of approximately $7 million to $9 million affecting global workforce (approximately 13%).

Type: restructuring
Charge: approximately $7 million to $9 million
Affected area: global workforce
Headcount: approximately 13%

Exact text from the filing

to scale for the future, continue its path to profitability, and deliver on its long-term vision. The Company estimates that it will incur non-recurring charges of approximately $7 million to $9 million in connection with the Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Amplitude, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-092340

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