Five9 to Reduce Workforce by 7% as Focus on Profitability Increases

Dow Jones08-21

By Denny Jacob

Five9 will reduce its workforce by about 7% as it looks to drive more profitable growth.

The call center software firm estimates the aggregate costs associated with the plan to be between $12 million and $15 million, according to a securities filing, with the expenses expected to be incurred primarily in the third and fourth quarters.

The layoffs are expected to be substantially complete by the end of the year.

"Five9 is focused on driving shareholder value by increasing revenue, improving profitability, investing in our key strategic initiatives, and delivering for our customers," said Chief Executive Mike Burkland in an email to employees regarding the workforce reduction.

Five9 had 2,684 employees as of Dec. 31, according to a securities filing.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 20, 2024 15:48 ET (19:48 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2461836614?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-21 03:48","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2461836614","market":"sg","top_or_hot":-1,"title":"Five9 to Reduce Workforce by 7% as Focus on Profitability Increases","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Denny Jacob \n</p>\n<pre>\n \n</pre>\n<p>\n  Five9 will reduce its workforce by about 7% as it looks to drive more profitable growth. \n</p>\n<p>\n  The call center software firm estimates the aggregate costs associated with the plan to be between $12 million and $15 million, according to a securities filing, with the expenses expected to be incurred primarily in the third and fourth quarters. \n</p>\n<p>\n  The layoffs are expected to be substantially complete by the end of the year. \n</p>\n<p>\n  \"Five9 is focused on driving shareholder value by increasing revenue, improving profitability, investing in our key strategic initiatives, and delivering for our customers,\" said Chief Executive Mike Burkland in an email to employees regarding the workforce reduction. \n</p>\n<p>\n  Five9 had 2,684 employees as of Dec. 31, according to a securities filing. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Denny Jacob at denny.jacob@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 20, 2024 15:48 ET (19:48 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Five9 to Reduce Workforce by 7% as Focus on Profitability Increases</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFive9 to Reduce Workforce by 7% as Focus on Profitability Increases\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-21 03:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Denny Jacob \n\n\n \n\n\n  Five9 will reduce its workforce by about 7% as it looks to drive more profitable growth. \n\n\n  The call center software firm estimates the aggregate costs associated with the ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FIVN","symbol_name":"Five9 Inc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2461836614","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461836614","pubTimestamp":1724183280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Five9 will reduce its workforce by about 7% as it looks to drive more profitable growth.The call center software firm estimates the aggregate costs associated with the plan to be between $12 million and $15 million, according to a securities filing, with the expenses expected to be incurred primarily in the third and fourth quarters.The layoffs are expected to be substantially complete by the end of the year.\"Five9 is focused on driving shareholder value by increasing revenue, improving profitability, investing in our key strategic initiatives, and delivering for our customers,\" said Chief Executive Mike Burkland in an email to employees regarding the workforce reduction.Five9 had 2,684 employees as of Dec. 31, according to a securities filing.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"FIVN":"Five9 Inc","BK4023":"应用软件"},"translate_title":"Five9将裁员7%，重点关注盈利能力的提高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FIVN":1},"content_text":"By Denny Jacob \n\n\n \n\n\n  Five9 will reduce its workforce by about 7% as it looks to drive more profitable growth. \n\n\n  The call center software firm estimates the aggregate costs associated with the plan to be between $12 million and $15 million, according to a securities filing, with the expenses expected to be incurred primarily in the third and fourth quarters. \n\n\n  The layoffs are expected to be substantially complete by the end of the year. \n\n\n  \"Five9 is focused on driving shareholder value by increasing revenue, improving profitability, investing in our key strategic initiatives, and delivering for our customers,\" said Chief Executive Mike Burkland in an email to employees regarding the workforce reduction. \n\n\n  Five9 had 2,684 employees as of Dec. 31, according to a securities filing. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 20, 2024 15:48 ET (19:48 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461836614"}