ABST - Absolute Software reduces headcount by ~5%

2023-04-06 08:15:12 ET

• Absolute Software ( NASDAQ: ABST ) ( TSX: ABST:CA ) said on Thursday that the intelligent security solutions company has reduced its overall headcount by ~40 people, or ~5% of the total employees.
• The move, which will also lead to office space reductions, is the part of a restructuring plan that the company has put into effect to lower operating expenses.
• In connection with the restructuring, the company expects to incur non-recurring charges of ~$1.8M to $2.8M.
• A majority of the charges will be incurred in Q4.
• The implementation of the headcount reductions will be substantially complete by Q4-end.
• Source: Press Release

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