Brief: New Relic Inc Says On Aug. 17, Board Committed To A Restructuring Plan To Realign Its Cost Structure With Its Business Needs - Filing

New Relic

18/08/2022 12:16

Aug 18 (Reuters) - New Relic Inc  NEWR.N :
    * NEW RELIC INC - ON AUGUST 17, BOARD COMMITTED TO A
RESTRUCTURING
PLAN TO REALIGN ITS COST STRUCTURE WITH ITS BUSINESS NEEDS
    * NEW RELIC INC - IN CONNECTION WITH RESTRUCTURING PLAN, CO
WILL
BE REDUCING ITS WORKFORCE BY ABOUT 90 EMPLOYEES IN U.S.
    * NEW RELIC - EXPECTS TO INCUR AGGREGATE CHARGES OF ABOUT
$8.3 TO
$9.3 MILLION FOR EMPLOYEE TERMINATIONS & OTHER COSTS ASSOCIATED
WITH RESTRUCTURING PLAN
    * NEW RELIC INC - EXPECTS THAT MOST RESTRUCTURING CHARGES
WILL BE
CASH EXPENDITURES AND THAT IT WILL RECOGNIZE MAJORITY OF THESE
COSTS IN Q2 2023

Source text for Eikon: [ID: https://bit.ly/3bXK94h]
Further company coverage:  NEWR.N 

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