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Yext (YEXT) has issued an update.
Yext, Inc. has announced a restructuring plan to streamline operations and achieve profitable growth, which will reduce its workforce by 12 percent based on headcount from January 31, 2024. The company anticipates incurring about $5 million in restructuring costs, mainly for severance-related expenses, with the majority expected in the second fiscal quarter of 2025. While aiming to complete the workforce reduction by the end of the same quarter, legal requirements across various jurisdictions may extend the process. The CEO has communicated this development to employees, acknowledging that forward-looking statements involve risks and uncertainties and should not be relied upon as guarantees of future performance.
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