Brief: Aterian Inc Approved A Global Restructuring Plan Including A Reduction In Workforce

Aterian

09/05/2023 23:20

May 9 (Reuters) - Aterian Inc  ATER.O :
    * ATERIAN INC - ON MAY 8, COMPANY APPROVED A GLOBAL
RESTRUCTURING
PLAN, INCLUDING A REDUCTION IN WORKFORCE
    * ATERIAN INC - REDUCTION IN WORKFORCE WILL RESULT IN
TERMINATION
OF APPROXIMATELY 70 EMPLOYEES AND 30 CONTRACTORS GLOBALLY
    * ATERIAN INC - EXPECTS TO SUBSTANTIALLY COMPLETE THIS
REDUCTION
BY END OF Q2 OF 2023
    * ATERIAN INC - EXPECTS TO SAVE ON AN ANNUALIZED BASIS $6
MILLION
IN SALARY AND COMPENSATION IN CONNECTION WITH REDUCTIONS
    * ATERIAN - SEES TO RECOGNIZE RESTRUCTURING CHARGES IN
CONNECTION
WITH HEADCOUNT REDUCTION PLAN FROM PRIMARILY FROM SEVERANCE OF
BETWEEN $1MLN-$1.3MLN
    * ATERIAN INC - APPOINTMENT OF CHIEF FINANCIAL OFFICER
ARTURO
RODRIGUEZ TO ADDITIONAL ROLE OF INTERIM CHIEF OPERATING OFFICER

Further company coverage:  ATER.O 

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