Brief: Edgio Inc Approves A Restructuring Plan

Edgio

07/03/2024 11:17

March 7 (Reuters) - Edgio Inc  EGIO.O :
    * EDGIO INC: ON MARCH 4, APPROVED A RESTRUCTURING PLAN
    * EDGIO INC: RESTRUCTURING PLAN IS ANTICIPATED TO ENTAIL A
REDUCTION IN FORCE OF ABOUT 80 EMPLOYEES, OR APPROXIMATELY 10%
OF COMPANY'S GLOBAL WORKFORCE
    * EDGIO INC - COMPANY ANTICIPATES IT WILL GENERATE
APPROXIMATELY
$18.6 MILLION IN NET ANNUAL SAVINGS.
    * EDGIO: ESTIMATES THAT RESTRUCTURING PLAN CHARGES WILL BE
ABOUT
$2.7 MILLION
    * EDGIO INC: RESTRUCTURING PLAN TO BE IMPLEMENTED THROUGH Q2

Source text for Eikon:  ID:n0001193125-24-061295 
Further company coverage:  EGIO.O 

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