Brief: Ontrak Intends To Reduce ~35% Of Positions, Predominately Within Departments Directly Supporting Contract

Ontrak

19/03/2021 21:22

March 19 (Reuters) - Ontrak Inc  OTRK.O :
    * ONTRAK INC - INTENDS TO REDUCE APPROXIMATELY 35% OF
POSITIONS,
PREDOMINATELY WITHIN DEPARTMENTS DIRECTLY SUPPORTING CONTRACT
    * ONTRAK INC - ESTIMATES ONE-TIME COSTS OF APPROXIMATELY
$1.5
MILLION OF TERMINATION BENEFITS TO IMPACTED EMPLOYEES
    * ONTRAK INC - EXPECTS TO COMPLETE REDUCTION IN WORKFORCE
PLAN BY
END OF Q2 IN 2021
    * ONTRAK INC - EXPECTS TO BRING BACK CAPACITY TO SCALE
APPROPRIATELY AS NEW OR EXPANDED CUSTOMER RELATIONSHIPS ARE
ONBOARDED FROM ITS PIPELINE.

Source:(https://bit.ly/3tHKWth)
Further company coverage:  OTRK.O 

 ((Reuters.Briefs@thomsonreuters.com;))