Alteryx, Inc. (AYX) shares are sliding more than 15 percent on Friday morning trade after the company announced a workforce reduction that might impact approximately 11 percent of employees, primarily in the sales and marketing and general and administrative organizations.
The company expects charges of approximately $11 to $13 million in connection with the job cut.
The execution of the job cut will be substantially complete by the end of the third quarter of 2023.
The company reported net loss of $89.04 million or $1.27 per share for the first quarter, compared to net loss of $105.56 million or $1.56 per share last year.
Currently, shares are $44.32, down 13.13 percent from the previous close of $51.02 on a volume of 1,797,334.
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