ZIPRECRUITER, INC. (ZIP): restructuring charge — ZipRecruiter to cut ~20% of workforce (270 employees); CEO takes 30% salary reduction; reaffirms guidance

ZIPRECRUITER, INC.

Headcount reduction of ~270 employees (~20% of total), mostly in sales and customer support; completion expected by June 30, 2023.
Estimated pre-tax charge of $7M-$9M in Q2 2023 for severance and termination benefits.
CEO Ian Siegel agrees to 30% base salary reduction effective June 1, 2023; waives 'good reason' claim related to reduction.
Reaffirms Q2 2023 revenue guidance $167M-$173M and FY2023 adjusted EBITDA $178M-$192M.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 1.0

ZIPRECRUITER, INC. announced a restructuring with charges of pre-tax charge in the range of $7 million to $9 million during the fiscal quarter ending June 30, 2023, consisting of one-time severance and other termination b affecting global headcount (reduce its global headcount by approximately 270 employees, which represents approximately 20% of the Company's total nu).

Type: restructuring
Charge: pre-tax charge in the range of $7 million to $9 million during the fiscal quarter ending June 30, 2023, consisting of one-time severance and other termination b
Affected area: global headcount
Headcount: reduce its global headcount by approximately 270 employees, which represents approximately 20% of the Company's total nu

Exact text from the filing

On May 31, 2023, ZipRecruiter, Inc. (the “Company”) announced a plan to reduce its global headcount by approximately 270 employees, which represents approximately 20% of the Company's total number of employees prior to the reduction.

View on SEC.gov

Browse all restructurings & charges →

ZIPRECRUITER, INC. filing history →

Source: SEC EDGAR

accession 0001617553-23-000028

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.