Brief: Edgio Approves Restructuring Plan, Expects To Cut 12% Of Global Workforce

Edgio

07/06/2023 22:43

June 7 (Reuters) - Edgio Inc  EGIO.O :
    * EDGIO INC -  ON JUNE 6, APPROVED A RESTRUCTURING PLAN,
ANTICIPATED TO ENTAIL A REDUCTION IN FORCE OF ABOUT 134
EMPLOYEES OR 12% OF GLOBAL WORKFORCE
    * EDGIO INC -  RESTRUCTURING PLAN ANTICIPATED TO BE
IMPLEMENTED
THROUGH Q4 OF 2023
    * EDGIO INC - RESTRUCTURING PLAN CHARGES WILL BE
APPROXIMATELY
$3.7 MILLION
    * EDGIO INC -  ANTICIPATES IT WILL GENERATE APPROXIMATELY
$23.7
MILLION IN NET ANNUAL SAVINGS

Further company coverage:  EGIO.O 

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