Brief: Marin Software Inc Says On Oct 14, Co Commenced Implementing Organizational Restructuring, Reduction In Force Plan To Reduce Co's Operating Costs

Marin Software

16/10/2024 12:34

Oct 16 (Reuters) - Marin Software Inc  MRIN.O :
    * MARIN SOFTWARE INC SAYS ON OCT 14, CO COMMENCED
IMPLEMENTING
ORGANIZATIONAL RESTRUCTURING, REDUCTION IN FORCE PLAN TO REDUCE
CO'S OPERATING COSTS
    * MARIN SOFTWARE INC:  RESTRUCTURING PLAN WILL RESULT IN
PRE-TAX
ANNUALIZED COST SAVINGS OF APPROXIMATELY $3.5 MILLION TO $3.7
MILLION
    * MARIN SOFTWARE - RESTRUCTURING PLAN EXPECTED TO RESULT IN
REDUCTION OF CO'S GLOBAL EMPLOYEES BY ABOUT 27 EMPLOYEES,
REPRESENTING ABOUT 26%
    * MARIN SOFTWARE - EXPECTS TO RELEASE ABOUT SEVEN
INDEPENDENT
CONTRACTORS
    * MARIN SOFTWARE - EXPECTS TO RECOGNIZE MAJORITY OF PRE-TAX
RESTRUCTURING CHARGES BY END OF DECEMBER QUARTER
    * MARIN SOFTWARE - EXPECTS TO SUBSTANTIALLY COMPLETE 2024
RESTRUCTURING PLAN BY END OF DECEMBER QUARTER

Further company coverage:  MRIN.O 

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