Plan To Reduce Company's Workforce By Approximately 40 Employees

Wejo

23/03/2023 12:46

March 23 (Reuters) - Wejo Group Ltd  WEJO.O :
    * WEJO GROUP LTD - PLAN TO REDUCE COMPANY'S WORKFORCE BY
APPROXIMATELY 40 EMPLOYEES
    * WEJO GROUP LTD - CO CURRENTLY ESTIMATES THAT IT WILL PAY
APPROXIMATELY $1.8 MILLION IN CONNECTION WITH THE REDUCTION IN
FORCE
    * WEJO GROUP LTD - CURRENTLY EXPECTS REDUCTION IN FORCE TO
RESULT
IN ABOUT $10 MILLION IN ANNUALIZED CASH OPERATING EXPENSE
SAVINGS
    * WEJO GROUP LTD - COST CUT DECISIONS TO TARGET CASH FLOW
POSITIVE
OPERATIONS PRIOR TO THE END OF THE FIRST HALF OF 2024

Further company coverage:  WEJO.O 

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