Qualtrics International Inc.: restructuring charge — Qualtrics cuts ~270 roles (~5% of workforce); expects $5.8M in restructuring charges

Qualtrics International Inc.

Eliminates approximately 270 roles globally, less than 5% of workforce, not aligning with 2023 priorities.
Non-recurring charges estimated at $5.8 million, mainly severance and benefits, expected in Q1 2023.
US impacted employees offered minimum 10 weeks pay, health insurance, benefits, and career resources.
CEO Zig Serafin communicated layoffs via email; conversations expected complete by end of week.
Implementation substantially complete by end of Q1 2023, subject to local legal requirements.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Qualtrics International Inc. announced a restructuring with charges of approximately $5.8 million affecting across the Company globally (approximately 270 roles across the Company globally).

Type: restructuring
Charge: approximately $5.8 million
Affected area: across the Company globally
Headcount: approximately 270 roles across the Company globally

Exact text from the filing

Company’s highest priorities for 2023. This represents less than 5% of the Company’s workforce. The Company estimates that it will incur non-recurring charges of approximately $5.8 million in connection with the headcount reductions, primarily consisting of severance payments, notice pay (where applicable), employee benefits contributions and related costs. The

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Source: SEC EDGAR

accession 0001628280-23-000897

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