RestructuringMay 11, 2026, 04:18 PM
ZoomInfo to Cut 600 Jobs (20% of Staff) in Restructuring; $45M-$60M Charge
AI Summary
ZoomInfo Technologies Inc. announced a restructuring program approved by its Board on May 5, 2026, to reduce operating costs and improve operating leverage. The program involves a global reduction in force of approximately 600 employees, impacting about 20% of the company's first-quarter headcount, with some roles being reallocated. The company expects to incur pre-tax charges of $45 million to $60 million, primarily for termination benefits, and anticipates annual run-rate operating expense reductions of approximately $60 million once fully implemented. The restructuring is expected to be substantially complete by the end of 2026.
Key Highlights
- Board approved a restructuring program on May 5, 2026.
- Global reduction in force of approximately 600 employees, impacting 20% of Q1 headcount.
- Approximately one-fourth of impacted roles will be reallocated to different locations.
- Expected pre-tax charges of $45 million to $60 million, mostly cash expenditures.
- Charges primarily for one-time termination benefits, including severance and benefits.
- Anticipates annual run-rate operating expense reduction of approximately $60 million.
- Restructuring expected to be substantially complete by end of 2026.
- Intends to close Israel site by year-end, transferring some operations.