Brief: Marketwise Inc To Wind-Down Operations Of Legacy Research

MarketWise

13/02/2024 15:12

Feb 13 (Reuters) - MarketWise Inc  MKTW.O :
    * AS PART OF REORGANIZATION, COMPANY WILL WIND-DOWN
OPERATIONS OF
LEGACY RESEARCH
    * ON FEB 8, COMMITTED TO STRATEGIC REALIGNMENT AND
REORGANIZATION
PLAN IMPACTING ITS LEGACY RESEARCH GROUP BUSINESS
    * UNABLE IN GOOD FAITH TO ESTIMATE AMOUNT OR RANGE OF
AMOUNTS
EXPECTED TO BE INCURRED IN CONNECTION WITH REORGANIZATION AND
WIND-DOWN
    * 104 EMPLOYEES AT LEGACY RESEARCH, WHICH IS ABOUT 18% OF
CO'S
TOTAL EMPLOYEES, WHO WILL BE OFFERED A NEW ROLE OR HAVE
POSITIONS ELIMINATED
    * REORGANIZATION IS IN RESPONSE TO MISCONDUCT DISCOVERED AT
LEGACY
RESEARCH WHERE CERTAIN MANAGERS VIOLATED CO'S POLICIES
    * REORGANIZATION IS CURRENTLY EXPECTED TO BE COMPLETED IN
FIRST
HALF OF FISCAL 2024

Source text for Eikon:  ID:n0001628280-24-004337 
Further company coverage:  MKTW.O 

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