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nCino announces 7% workforce reduction

nCino (NCNO) announced a workforce reduction of approximately 7% and office space reductions in certain markets “in furtherance of its efforts to improve operational efficiencies.” Communications to impacted employees and actions associated with the office space reductions will be substantially completed by the end of its fiscal Q2. The company expects to incur charges in Q2 of $7.5M to $9.0M. The company intends to exclude these charges from its non-GAAP financial measures.

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