Brief: Vroom Inc Reduced Headcount By Approximately 275 Employees

Vroom

18/01/2023 22:10

Jan 18 (Reuters) - Vroom Inc  VRM.O :
    * VROOM INC - ON JANUARY 18, CO EXECUTED A REDUCTION IN
FORCE AS
PART OF COMPANY'S CONTINUED FOCUS ON REDUCING VARIABLE AND FIXED
COSTS
    * VROOM INC - REDUCED VROOM'S HEADCOUNT BY APPROXIMATELY 275
EMPLOYEES, OR APPROXIMATELY 20% OF VROOM EMPLOYEES
    * VROOM INC - COMBINED WITH PRIOR REDUCTIONS, THIS REFLECTS
AN
APPROXIMATELY 50% REDUCTION OF VROOM EMPLOYEES AND CONTRACTORS
SINCE JANUARY 2022
    * VROOM INC - EXPECTS TO ACHIEVE APPROXIMATELY $27.0 MILLION
OF
ANNUALIZED CASH SAVINGS AS A RESULT OF REDUCTION IN FORCE
    * VROOM INC - EXPECTS TO INCUR TOTAL CASH CHARGES OF
APPROXIMATELY
$4.0 MILLION FROM  REDUCTION IN FORCE

Further company coverage:  VRM.O 
 ((Reuters.Briefs@thomsonreuters.com;))