PagerDuty, Inc. (PD): restructuring charge — PagerDuty cuts 7% headcount, appoints new global field ops lead, reaffirms FY23 guidance

Dave Justice has given notice that he will resign from his position as the Company’s Chief Revenue Officer, effective February, 3, 2023 to pursue other opportunities.

Jeremy Kmet, previously the Company’s Senior Vice President, North America Sales and Customer Acquisition, has been appointed Senior Vice President of Global Field Operations, reporting into Chair and CEO Jennifer Tejada, effective February 1, 2023.

On January 24, 2023, PagerDuty, Inc. (the "Company") announced that as part of the Company’s ongoing actions to drive efficient growth and expand operating margins, the Company is advancing global scaling initiatives designed to increase the Company’s capacity while improving its cost structure. The changes include reallocating certain roles and realigning teams to continue to improve operational resiliency and agility, and rationalizing the Company’s real estate footprint. The immediate impact is a 7% reduction in headcount, as some roles are eliminated and new roles created in high-talent, lower-cost geographies. The Company estimates that it will incur non-recurring charges in a range of $5.0 million to $7.0 million in connection with the headcount reductions, primarily consisting of severance payments, notice pay (where applicable), employee benefits contributions and related costs.