Brief: Hippo Holdings Announces Restructuring Plans

Hippo Holdings

31/08/2022 12:26

Aug 31 (Reuters) - Hippo Holdings Inc  HIPO.N :
    * HIPPO HOLDINGS - INSTITUTED ORGANIZATIONAL REALIGNMENT,
INCLUDING INVOLUNTARY WORKFORCE REDUCTION AFFECTING ABOUT 70
EMPLOYEES
    * HIPPO HOLDINGS - EXPECTS MAJORITY OF AFFECTED EMPLOYEES TO
BE
NOTIFIED ON AUGUST 31, 2022, WITH MOST JOB ELIMINATIONS
EFFECTIVE ON SEPTEMBER 1, 2022
    * HIPPO HOLDINGS - IN Q3 OF 2022, EXPECTS TO RECORD CHARGES
OF
ABOUT $1.8 MILLION TO $2.0 MILLION FOR SEVERANCE, BENEFITS,
RELATED COSTS
    * HIPPO HOLDINGS - CONTINUING TO REVIEW POTENTIAL IMPACT OF
REDUCTION & IS UNABLE TO ESTIMATE ANY ADDITIONAL RESTRUCTURING
COSTS OR CHARGES AT THIS TIME

Source text for Eikon:  ID: 
Further company coverage:  HIPO.N 

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