By Paul Ziobro
Sprinklr said it would trim about 15% of its global workforce, which it said would help align costs with the current business and free up capital for incremental investment.
The company, which provides customer-experience-management software, estimates it will incur non-recurring charges of around $25 million tied to the cuts, according to a Thursday filing with the Securities and Exchange Commission. The majority of the costs will occur in the first and second quarter of its next fiscal year.
Some of the areas it plans to invest in include hiring in key strategic areas, including additional go-to-market resources to grow its core products and research-and-development resources to harden its service product.
Sprinklr reported have 3,869 employees as of Jan. 31, 2024, according to its most recent annual report.
The New York company also said that it expects its results for the current quarter and fiscal year to be in-line with or above its guidance issued in December.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
February 06, 2025 16:56 ET (21:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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