Brief: Blackline Inc Expects To Reduce Its Global Workforce By Approximately 9%

BlackLine

23/08/2023 21:19

Aug 23 (Reuters) - Blackline Inc  BL.O :
    * BLACKLINE INC - EXPECTS TO REDUCE ITS GLOBAL WORKFORCE BY
APPROXIMATELY 9.0%, OR 166 TOTAL EMPLOYEE POSITIONS
    * BLACKLINE INC - ANNOUNCED A RESTRUCTURING PLAN THAT IS
DESIGNED
TO SUPPORT COMPANY'S GROWTH, SCALE AND PROFITABILITY OBJECTIVES
    * BLACKLINE INC - IN CONNECTION WITH RESTRUCTURING PLAN,
COMPANY
CURRENTLY ESTIMATES THAT IT WILL INCUR EXPENSES OF UP TO $9.0
MILLION
    * BLACKLINE INC - SUBSTANTIAL MAJORITY OF EXPENSES ARE
EXPECTED TO
RESULT IN CASH EXPENDITURES
    * BLACKLINE INC - EXPECTS TO RECOGNIZE ANTICIPATED EXPENSES
DURING
THIRD AND FOURTH QUARTERS OF FISCAL YEAR 2023
    * BLACKLINE INC -  EXPECTS TO HAVE SUBSTANTIALLY COMPLETED
PLANNED
ACTIONS DURING Q4 OF FISCAL YEAR 2023
    * BLACKLINE INC - ANTICIPATES ANNUAL GROSS COST SAVINGS OF
APPROXIMATELY $28.0 MILLION TO BE REALIZED FROM RESTRUCTURING
PLAN BY YEAR-END 2024

Source text: [ID:https://bit.ly/45IETHV]
Further company coverage:  BL.O 

 ((Reuters.Briefs@thomsonreuters.com;))