Brief: Playstudios Inc Reduces Current Total Global Workforce By About 14%

Playstudios

03/03/2023 22:30

March 3 (Reuters) - Playstudios Inc  MYPS.O :
    * PLAYSTUDIOS INC - REDUCTION OF CURRENT TOTAL GLOBAL
WORKFORCE BY
ABOUT 14 PERCENT
    * PLAYSTUDIOS INC - ON FEB 28, INITIATED AN INTERNAL
REORGANIZATION PLAN INTENDED TO ENHANCE EFFICIENCY AND REDUCE
OPERATING EXPENSES
    * PLAYSTUDIOS INC - EXPECTS TO SUBSTANTIALLY COMPLETE
PERSONNEL
REDUCTION BY END OF Q2 OF FISCAL YEAR 2023
    * PLAYSTUDIOS INC -  COMPANY ESTIMATES THAT IT WILL INCUR
APPROXIMATELY $4.5 MILLION TO $5.5 MILLION IN CHARGES IN
CONNECTION WITH THE PLAN
    * PLAYSTUDIOS INC - CHARGES IN CONNECTION WITH THE PLAN,
WILL BE
SUBSTANTIALLY INCURRED IN THE FIRST AND SECOND QUARTERS OF
FISCAL YEAR 2023

Source: (shorturl.at/fgkx1)
Further company coverage:  MYPS.O 

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