Brief: Getaround Inc Approved A Restructuring Plan

Getaround

02/02/2023 22:47

Feb 2 (Reuters) - Getaround Inc  GETR.N :
    * GETAROUND INC - ON FEBRUARY 1, 2023, THE BOARD OF
DIRECTORS OF
CO APPROVED A RESTRUCTURING PLAN
    * GETAROUND INC - COMPANY EXPECTS TO REDUCE GLOBAL HEADCOUNT
BY
APPROXIMATELY 10%
    * GETAROUND INC - ESTIMATES THAT IT WILL INCUR TOTAL COSTS
IN
CONNECTION WITH THE RESTRUCTURING OF APPROXIMATELY $1.4 MILLION
    * GETAROUND INC - CHANGES ESTIMATED TO RESULT IN COST
SAVINGS OF
BETWEEN $25 MILLION AND $30 MILLION ON AN ANNUALIZED RUN-RATE
BASIS
    * GETAROUND INC - ACTIONS ARE EXPECTED TO BE COMPLETED IN
CALENDAR
YEAR 2023

Further company coverage:  GETR.N 
 ((Reuters.Briefs@thomsonreuters.com;))