Brief: Eargo Inc Board Approved A Plan To Reduce The Company's Employee Workforce By About 17%

Eargo

27/05/2022 22:00

May 27 (Reuters) - Eargo Inc  EAR.O :
    * EARGO INC - ON MAY 24,, BOARD OF EARGO, APPROVED A PLAN TO
REDUCE THE COMPANY’S EMPLOYEE WORKFORCE BY APPROXIMATELY 17%
    * EARGO INC - PLAN TO REDUCE CO'S WORKFORCE BY ABOUT 17% IS
PART
OF COMPANY’S COST-CUTTING MEASURES TO REDUCE OPERATING EXPENSES
AND PRESERVE CAPITAL
    * EARGO INC - COMPANY EXPECTS TO SUBSTANTIALLY COMPLETE THE
EMPLOYEE WORKFORCE REDUCTION BY THE END OF ITS QUARTER ENDING
JUNE 30, 2022
    * EARGO INC - ESTIMATES COSTS ASSOCIATED WITH ALL ACTIVITIES
UNDER
EMPLOYEE WORKFORCE REDUCTION PLAN WILL BE APPROXIMATELY $0.4
MILLION TO $0.6 MILLION


Further company coverage:  EAR.O 

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