Brief: Re/Max Holdings Inc - Announced A Reduction In Force And Reorganization Intended To Streamline Company's Operations

Re/Max Holdings

18/08/2023 22:50

Re/Max Holdings Inc  RMAX.N :
    * RE/MAX HOLDINGS INC - ANNOUNCED A REDUCTION IN FORCE AND
REORGANIZATION INTENDED TO STREAMLINE COMPANY'S OPERATIONS
    * RE/MAX HOLDINGS INC - REORGANIZATION WILL REDUCE COMPANY'S
OVERALL WORKFORCE BY APPROXIMATELY 7%
    * RE/MAX HOLDINGS INC -  THE REORGANIZATION IS EXPECTED TO
BE
SUBSTANTIALLY COMPLETE BY SEPTEMBER 30, 2023
    * RE/MAX HOLDINGS- AS PART OF REORGANIZATION, EMPLOYMENT OF
ADAM
GROSSHANS, WHO SERVED AS PRINCIPAL ACCOUNTING OFFICER,
TERMINATED EFFECTIVE AUGUST 18
    * RE/MAX SEES TO INCUR A PRE-TAX CASH CHARGE FOR ONE-TIME
TERMINATION BENEFITS OF BETWEEN $2.75 MILLION & $3.25 MILLION,
LARGELY TO BE RECOGNIZED IN Q3
    * RE/MAX HOLDINGS- EFFECTIVE AUGUST 18, PROMOTED LEAH
JENKINS TO
VICE PRESIDENT, CHIEF ACCOUNTING OFFICER, APPOINTED HER AS
PRINCIPAL ACCOUNTING OFFICER
    * RE/MAX HOLDINGS- REAFFIRMED Q3 & FY 2023 GUIDANCE AS
PREVIOUSLY
PROVIDED IN THE COMPANY’S SECOND QUARTER EARNINGS RELEASE ISSUED
ON AUGUST 2, 2023

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Further company coverage:  RMAX.N