Magnite gains on plans to axe 6% of global workforce

Magnite

19/01/2023 23:29

** Shares of technology solutions provider Magnite Inc
 MGNI.O  rise ~1% to $9.5 in extended trading
    ** Says it will reduce global workforce by about 6%
 urn:newsml:reuters.com:*:nEOL7tm4NC
    ** Reduction primarily associated with elimination of
duplicative roles resulting from the integration of its
Connected TV (CTV) platforms and the realization of acquisition
operating cost synergies
    ** Shares of MGNI fell 39.5% in 2022
 (Reporting by Sri Hari N S in Bengaluru)
 ((SriHari.NS@thomsonreuters.com;))