LiveVox Holdings to cut jobs to control costs; shares fall

LiveVox Holdings

17/01/2023 15:09

** Shares of cloud-based platform LiveVox Holdings Inc
 LVOX.O  fall as much as 4% to $2.52
    ** Stock set for second straight day of losses 
    ** Company will reduce about 96 employees, or about 16% of
its global workforce, as part of a new cost reduction plan
    ** Expects to record between $3 mln and $3.5 mln in the
first quarter, as total restructuring charge related to one-time
termination benefits 
    ** LVOX says the employment of Chief Revenue Officer Erik
Fowler was terminated, effective Jan. 20, related to the cost
reduction plan 
    ** Stock had fallen ~42% in 2022
 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))