Brief: 1Stdibs.Com Inc Says Workforce Reduction Designed To Reduce Operating Costs And Realign Investment Priorities
28/06/2023 22:27
June 28 (Reuters) - 1stdibs.Com Inc DIBS.O :
* 1STDIBS.COM INC - WORKFORCE REDUCTION DESIGNED TO REDUCE
OPERATING COSTS AND REALIGN INVESTMENT PRIORITIES
* 1STDIBS.COM INC - REDUCTION IS EXPECTED TO REPRESENT
APPROXIMATELY 20% OF COMPANY'S CURRENT GLOBAL WORKFORCE
* 1STDIBS.COM INC - ESTIMATES THAT IT WILL INCUR
APPROXIMATELY
$1.9 MILLION - $2.2 MILLION IN NON-RECURRING RESTRUCTURING
CHARGES
* 1STDIBS.COM INC - EXPECTS THAT SUBSTANTIALLY ALL OF THE
RESTRUCTURING CHARGES WILL BE INCURRED IN THE SECOND QUARTER OF
2023
* 1STDIBS.COM INC - ON JUNE 26, DETERMINED EMPLOYMENT OF
ROSS
PAUL, CO'S CHIEF TECHNOLOGY OFFICER WOULD BE TERMINATED AS PART
OF WORKFORCE REDUCTION
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((Reuters.Brief@thomsonreuters.com;))