Brief: Kore Group Holdings Reduction In Force Plan Affecting About 19% Of Co's Employee Base

KORE group

15/08/2024 11:32

Aug 15 (Reuters) - KORE Group Holdings Inc  KORE.N :
    * KORE GROUP HOLDINGS: REDUCTION IN FORCE PLAN AFFECTING
ABOUT 19%
OF CO'S EMPLOYEE BASE
    * KORE GROUP HOLDINGS INC - EXPECTS RESTRUCTURING PLAN TO BE
SUBSTANTIALLY COMPLETED BY DECEMBER 31
    * KORE GROUP HOLDINGS INC:  APPOINTMENT OF RONALD TOTTON AS
ITS
PRESIDENT AND CHIEF EXECUTIVE OFFICER
    * KORE GROUP HOLDINGS: TOTAL COSTS & CASH EXPENDITURES FOR
RESTRUCTURING PLAN ESTIMATED TO BE $5 MILLION - $6 MILLION
    * KORE GROUP HOLDINGS: SEES 2024 REVENUE $275 MILLION - $285
MILLION
    * KORE GROUP- GOT LETTER FROM NYSE THAT CO REGAINED
COMPLIANCE
WITH SECTION 802.01C OF NYSE LISTED COMPANY MANUAL
    * KORE GROUP HOLDINGS: QTRLY REVENUE $67.9 MILLION

Source text for Eikon:  ID:n0001628280-24-037336 
Further company coverage:  KORE.N 

 (Reuters.Briefs@thomsonreuters.com)