Brief: Owlet Inc Says On July 21, Implemented Restructuring Program To Streamline Organizational Structure

Owlet

25/07/2022 20:49

July 25 (Reuters) - Owlet Inc  OWLT.N :
    * OWLET INC - ON JULY 21, IMPLEMENTED A RESTRUCTURING PROGRAM TO STREAMLINE COMPANY'S
ORGANIZATIONAL STRUCTURE
    * OWLET INC - COMMENCED A WORKFORCE REDUCTION OF ABOUT 74 EMPLOYEES THAT IS EXPECTED TO BE
SUBSTANTIALLY COMPLETED IN Q3 OF 2022
    * OWLET INC - IN CONNECTION WITH RESTRUCTURING PROGRAM, COMPANY EXPECTS TO INCUR AN
ESTIMATED
TOTAL AMOUNT OF ABOUT $1.1 MILLION IN Q3 OF 2022
    * OWLET INC - UNDERTAKING RESTRUCTURING PROGRAM PRIMARILY TO INCREASE COST-EFFICIENCIES
ACROSS
ORGANIZATION AND STRIVE FOR PROFITABILITY

Source text - https://bit.ly/3BhhwZK
Further company coverage:  OWLT.N 

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