Sprinklr Cuts 4% Of Workforce: Report - Sprinklr (NYSE:CXM)

Customer experience firm Sprinklr, Inc CXM reportedly laid off roughly 4% of its global workforce or more than 100 employees.
Sprinklr started the layoff drive last week and is cutting its workforce in India, the U.S., and other regions, TechCrunch reports.
The report cited a Sprinklr spokesperson who said the “strategic business decision” affected employees across certain targeted regions, segments, and support functions.
"While these decisions are extremely hard to make, it is the right decision for our long-term success as we shift from a capacity-driven to productivity-driven business model,” the spokesperson stated.
On February 7, Sprinklr notified the initial batch of its affected employees. It confirmed to TechCrunch that the decision did not impact any C-level executives.
The company had 3,245 employees as of Jan. 31, 2022. Of those, 933 were based in the U.S., and 2,312 were based internationally, including 1,580 in India.
Sprinklt cut at least 50 roles in its global marketing department in July, the report adds.
Sprinklr reported third-quarter revenue growth of 24% year-on-year to $157.3 million, marginally beating the consensus of $156.1 million.
Non-GAAP EPS of $0.02 beat the consensus loss of $(0.01).
Price Action: CXM shares traded lower by 0.09% at $11.01 on the last check Wednesday.