Brief: New Relic Says Restructuring Plan Contemplates Reduction Of Workforce By Up To 255 Employees Globally

New Relic

27/06/2023 13:51

June 27 (Reuters) - New Relic Inc  NEWR.N :
    * NEW RELIC INC - RESTRUCTURING PLAN CONTEMPLATES A
REDUCTION OF
COMPANY'S WORKFORCE BY A TOTAL OF UP TO 255 EMPLOYEES GLOBALLY
    * NEW RELIC INC - CURRENTLY EXPECTS TO END FISCAL YEAR 2024
AT
ABOUT SAME HEADCOUNT AS OF END OF FISCAL YEAR 2023
    * NEW RELIC INC SAYS  EXPECTS TO INCUR AGGREGATE CHARGES OF
ABOUT
$18 MILLION TO $22 MILLION IN CONNECTION WITH THE RESTRUCTURING
PLAN
    * NEW RELIC - EXPECTS ABOUT 75% OF CHARGES WILL BE CASH
EXPENDITURES, THAT IT WILL RECOGNIZE MAJORITY OF THESE
RESTRUCTURING COSTS IN Q1 OF FISCAL 2024
    * NEW RELIC INC - WORKFORCE REDUCTION OF UP TO 255 EMPLOYEES
GLOBALLY, INCLUSIVE OF EMPLOYEES PREVIOUSLY EXITED IN MAY AND
EARLY JUNE

Further company coverage:  NEWR.N 

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