Brief: Quantum Corp - On May 31, 2023 Company's Board Approved A Global Efficiency Plan

Quantum

06/06/2023 13:58

June 6 (Reuters) - Quantum Corp  QMCO.O :
    * QUANTUM CORP - ON MAY 31, 2023 COMPANY'S BOARD APPROVED A
GLOBAL
EFFICIENCY PLAN
    * QUANTUM CORP - ACTIVITIES UNDER EFFICIENCY PLAN INCLUDE A
REDUCTION OF COMPANY'S GLOBAL WORKFORCE BY OVER 10%
    * QUANTUM CORP - EFFICIENCY PLAN ACTIVITIES ARE EXPECTED TO
BE
SUBSTANTIALLY COMPLETED BY END OF FISCAL YEAR 2025
    * QUANTUM CORP - CURRENTLY ESTIMATES IT WILL INCUR CASH
PRE-TAX
RESTRUCTURING CHARGES OF ABOUT $8.5 MILLION THROUGH END OF
FISCAL YEAR 2025

Source text for Eikon:  ID: 
Further company coverage:  QMCO.O 

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