Brief: Edgio Inc Says On Dec 13, 2022, Board Approved A Restructuring Plan

Edgio

14/12/2022 22:41

Dec 14 (Reuters) - Edgio Inc  EGIO.O :
    * EDGIO INC - ON DEC 13, 2022, BOARD APPROVED A
RESTRUCTURING PLAN
    * EDGIO INC - RESTRUCTURING PLAN IS ANTICIPATED TO ENTAIL A
REDUCTION IN FORCE OF APPROXIMATELY 95 EMPLOYEES
    * EDGIO INC - ESTIMATES THAT RESTRUCTURING PLAN CHARGES WILL
BE
APPROXIMATELY $2.6
    * EDGIO INC - ESTIMATES THAT RESTRUCTURING PLAN CHARGES WILL
BE
APPROXIMATELY $2.6 MILLION
    * EDGIO INC - COMPANY ANTICIPATES IT WILL GENERATE
APPROXIMATELY
$14.0 MILLION IN NET ANNUAL SAVINGS
    * EDGIO - PLAN IS ANTICIPATED TO ENTAIL REDUCTION IN FORCE
OF
ABOUT 95 EMPLOYEES, OR ABOUT 10% OF  GLOBAL WORKFORCE TO BE
IMPLEMENTED THROUGH Q2 OF 2023

Further company coverage:  EGIO.O 
 ((Reuters.Briefs@thomsonreuters.com;))