Brief: Peraso Says Implemented A Temporary Lay-Off That Impacted Employees Of Its Canadian Subsidiary

Peraso

13/11/2023 22:09

Nov 13 (Reuters) - Peraso Inc  PRSO.O :
    * PERASO INC - ON NOVEMBER 7, IMPLEMENTED AN EMPLOYEE
LAY-OFF AND
TERMINATED CERTAIN CONSULTING POSITIONS
    * PERASO INC - REDUCTIONS IMPACTED 19 FULL-TIME EQUIVALENT
POSITIONS, OR APPROXIMATELY 28% OF THE COMPANY’S WORKFORCE
    * PERASO INC - IMPLEMENTED A TEMPORARY LAY-OFF THAT IMPACTED
EMPLOYEES OF ITS CANADIAN SUBSIDIARY
    * PERASO INC - WILL DETERMINE IN 2024 WHETHER BUSINESS
CONDITIONS
WILL PERMIT THE RECALL OF THE IMPACTED EMPLOYEES
    * PERASO INC - IF CO DOES NOT RECALL IMPACTED CANADIAN
EMPLOYEES,
SEES TOTAL NON-RECURRING CHARGES WILL APPROXIMATE $0.5 MILLION
TO $1.0 MILLION
    * PERASO INC - EXPECTS THAT THE MAJORITY OF RESTRUCTURING
RELATED
CHARGES WOULD BE INCURRED BY Q2 2024
    * PERASO INC - QTRLY ADJUSTED LOSS PER SHARE $0.04
    * PERASO INC - QTRLY LOSS PER SHARE $0.02

Further company coverage:  PRSO.O 

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