Brief: Taboola Announces Cost Restructuring To Ensure Continued Profitable Growth

Taboola.Com

13/09/2022 21:14

Sept 13 (Reuters) - Taboola.com Ltd  TBLA.O :
    * TABOOLA ANNOUNCES COST RESTRUCTURING TO ENSURE CONTINUED
PROFITABLE GROWTH AND FREE CASH FLOW
    * TABOOLA.COM LTD - REAFFIRMING Q3 GUIDANCE AND EXPECTS TO
GENERATE OVER $152M IN ADJUSTED EBITDA IN 2022
    * TABOOLA.COM LTD- COST SAVINGS ACHIEVED VIA A WORKFORCE
REDUCTION
OF APPROXIMATELY 6%
    * TABOOLA.COM LTD - EXPECT TO REDUCE 2023 OPERATING EXPENSES
BY
$50 MILLION
    * TABOOLA.COM LTD - EXPECTS PROGRAM TO BE LARGELY COMPLETED
BY
YEAR-END WITH A MAJORITY OF CHANGES TAKING PLACE IN 2022
    * TABOOLA.COM LTD- COST SAVINGS ACHIEVED VIA $23M REDUCTION
IN
DISCRETIONARY EXPENSES AND $15M REDUCTION IN CAPEX IN 2023 AS
WELL
    * TABOOLA.COM LTD- REALIGNING AND RESTRUCTURING TEAMS TO
FOCUS ON
THREE TOP PRIORITIES: PERFORMANCE ADVERTISING, E-COMMERCE AND
HEADER BIDDING

Source text for Eikon:  ID:nGNX8DhmSM 
Further company coverage:  TBLA.O 

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