Brief: Kubient Inc - On October 2, Co Reduced Expenses By Implementing An Approximately 36% Reduction In The Co’S Workforce, Or 4 People

Kubient

06/10/2023 21:42

Oct 6 (Reuters) - Kubient Inc  KBNT.O :
    * KUBIENT INC - ON OCTOBER 2, CO REDUCED EXPENSES BY
IMPLEMENTING
AN APPROXIMATELY 36% REDUCTION IN THE COMPANY’S WORKFORCE, OR 4
PEOPLE
    * KUBIENT INC - REDUCTION IN WORKFORCE IS INTENDED TO REDUCE
THE
COMPANY’S OPERATING COSTS
    * KUBIENT - EXPECTS TO RECOGNIZE RESTRUCTURING CHARGES IN
CONNECTION WITH THE WORKFORCE REDUCTION PLAN WITH RESPECT TO
SEVERANCE PAYMENTS AND BENEFITS
    * KUBIENT -  SEVERANCE AND BENEFIT CONTINUATION CHARGES ARE
ESTIMATED TO BE ABOUT $320,000 AND ARE EXPECTED TO BE RECOGNIZED
PRIMARILY IN Q4 OF 2023
    * KUBIENT -  EXPECTS ORGANIZATIONAL CHANGE WILL REDUCE
CURRENT
ANNUALIZED PAYROLL AND BENEFIT EXPENSES BY APPROXIMATELY
$1,000,000

Further company coverage:  KBNT.O 

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