Brief: Kaltura Inc Board Of Directors Approve Re-Organization Plan

Kaltura

04/01/2023 11:40

Jan 4 (Reuters) - Kaltura Inc  KLTR.O :
    * KALTURA INC - ON JANUARY 3, 2023, THE BOARD OF DIRECTORS
OF CO
APPROVED A RE-ORGANIZATION PLAN
    * KALTURA INC - PLAN INCLUDES, AMONG OTHER THINGS,
DOWNSIZING
APPROXIMATELY 11% OF COMPANY'S CURRENT WORKFORCE
    * KALTURA INC - TOTAL COST REDUCTION FROM THE DOWNSIZING ON
AN
ANNUALIZED BASIS IS EXPECTED TO BE APPROXIMATELY $16 MILLION
    * KALTURA INC -  PLAN IS EXPECTED TO BE SUBSTANTIALLY
COMPLETED IN
THE FIRST HALF OF 2023
    * KALTURA INC -  ALL OF THE CHARGES ARE EXPECTED TO RESULT
IN CASH
EXPENDITURES
    * KALTURA INC - PLAN INCLUDES ADAPTING COMPANY'S
ORGANIZATIONAL
STRUCTURE, ROLES, AND RESPONSIBILITIES ACCORDINGLY
    * KALTURA INC- EXPECTS TO INCUR PRE-TAX CHARGES OF ABOUT $1
MILLION, PRIMARILY FOR SEVERANCE, RELATED COSTS,  EXPECTED TO BE
EXPENSED IN FIRST QUARTER 2023

Source: (shorturl.at/cfT45)
Further company coverage:  KLTR.O 
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