Five9 Announces Workforce Reduction of ~180 Employees to Drive Shareholder Value
SOURCENews reportView the filing ↗
What we know
A specific layoff date has not been disclosed.
Based on news reporting.
Summary
Five9, Inc. announced a planned workforce reduction representing seven percent of its staff, described as approximately 180 employees, in an SEC filing as part of a broader plan to drive balanced, profitable growth and increase shareholder value. The company said it expects to "substantially complete" actions from the plan, including the job cuts, by the end of 2024 and notified impacted employees on August 20, 2024. CEO Mike Burkland said the company will support affected staff with severance and job transition assistance and framed the restructuring as aligned with continued double-digit revenue growth. The filing positions the reductions as part of a restructuring to improve long-term outlook and shareholder returns.
Five9, Inc. cut 180 jobs.
That is roughly 9.5% of the 1,900 people Five9, Inc. employs.
LayoffTalk has tracked 2 layoff events at Five9, Inc. since August 2024, including 33 jobs documented in official WARN filings, with 1 additional event known from news reporting.
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