Brief: Icad Inc - Plans To Reduce Its Workforce By Approximately 28%, Decreasing Its Headcount By Approximately 23 Employees

icad

24/03/2023 20:44

March 24 (Reuters) - ICAD Inc  ICAD.O :
    * ICAD INC - PLANS TO REDUCE ITS WORKFORCE BY APPROXIMATELY
28%,
DECREASING ITS HEADCOUNT BY APPROXIMATELY 23 EMPLOYEES
    * ICAD INC - XOFT, INC., A WHOLLY-OWNED SUBSIDIARY OF
COMPANY,
WILL ALSO FURLOUGH 12 OF ITS EMPLOYEES, OR APPROXIMATELY 50% OF
ITS WORKFORCE
    * ICAD INC -  ON MARCH 20, COMMITTED TO A RESTRUCTURING PLAN
    * ICAD INC-CURRENTLY ESTIMATES WILL INCUR ONE-TIME CASH
PRE-TAX
RESTRUCTURING CHARGES OF $0.3 MILLION IN FIRST HALF OF 2023 AS A
RESULT OF RIF


Further company coverage:  ICAD.O 

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