Brief: Lendingtree Says Committed To Workforce Reduction Plan

LendingTree

29/03/2023 22:35

March 29 (Reuters) - Lendingtree Inc  TREE.O :
    * LENDINGTREE INC-ON MARCH 24, CO COMMITTED TO A WORKFORCE
REDUCTION PLAN
    * LENDINGTREE INC - REDUCTION PLAN INCLUDES ELIMINATION OF
APPROXIMATELY 13% OF COMPANY'S CURRENT WORKFORCE
    * LENDINGTREE INC - COMPANY EXPECTS THAT RESTRUCTURING
CHARGES
RELATED TO REDUCTION PLAN WILL BE INCURRED IN FIRST AND SECOND
QUARTERS OF 2023
    * LENDINGTREE INC - EXPECTS EXECUTION OF REDUCTION PLAN,
INCLUDING
CASH PAYMENTS, WILL BE COMPLETED BY END OF Q2 OF 2024
    * LENDINGTREE INC-AS RESULT OF REDUCTION PLAN, ESTIMATES IT
WILL
INCUR ABOUT $5.6 MILLION IN SEVERANCE CHARGES IN CONNECTION WITH
WORKFORCE REDUCTION
    * LENDINGTREE INC - COMPANY IS NOT REVISING ITS Q1 OR
FULL-YEAR
OUTLOOK AT THIS TIME

Source text for Eikon:  ID: 
Further company coverage:  TREE.O 

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