Subsequent Events

12 Months Ended

Jan. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On February 7, 2023, we announced a restructuring plan (the “Plan”) intended to reduce operating costs and continue advancing our ongoing commitment to profitable growth. The Plan includes a reduction of our current workforce by approximately 15%. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries, as well as our business needs.

We estimate that we will incur approximately $50 million to $68 million in charges in connection with the Plan, which will be substantially incurred in the first quarter of fiscal year 2024. These charges primarily relate to employee transition, severance payments, employee benefits, and stock-based compensation. Of the aggregate amount of charges that we estimate we will incur in connection with the Plan, we expect that approximately $43 million to $59 million will be in future cash expenditures.

The actions associated with the employee restructuring under the Plan are expected to be substantially complete by the first quarter of fiscal year 2024, subject to local law and consultation requirements.

The estimates of the charges and expenditures that we expect to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Plan.