Brief: Verticalscope To Cut 60 Jobs

Verticalscope Holdings

01/02/2023 23:58

Feb 1 (Reuters) - VerticalScope Holdings Inc  FORA.TO :
    * VERTICALSCOPE ANNOUNCES ORGANIZATIONAL CHANGES AND REPORTS
PRELIMINARY UNAUDITED FOURTH QUARTER AND FULL YEAR 2022 RESULTS
    * VERTICALSCOPE - ANNOUNCES A REDUCTION IN WORKFORCE OF
ABOUT 60
PEOPLE TO STREAMLINE ITS OPERATIONS AND FOCUS INVESTMENTS ON KEY
GROWTH INITIATIVES
    * VERTICALSCOPE HOLDINGS INC - Q4 2022 REVENUE IS EXPECTED
TO BE
$19.1 MILLION, A DECREASE OF 10.9%
    * VERTICALSCOPE HOLDINGS INC -REDUCTION IN WORKFORCE
REPRESENTS
22% OF COMPANY'S TOTAL EMPLOYEE BASE
    * VERTICALSCOPE HOLDINGS -WORKFORCE REDUCTION,  OTHER COST
SAVING
INITIATIVES, EXPECTED TO GENERATE ABOUT $6.0 MILLION ANNUALIZED
COST SAVINGS

Source text for Eikon:  ID:nBwbb4zv0a 
Further company coverage:  FORA.TO 
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