TTGT - TechTarget announces restructuring to lay off 5% of workforce
- TechTarget ( NASDAQ: TTGT ) on Friday announced a restructuring plan to generate operational efficiencies, which includes streamlining operations of certain units and reducing ~5% of its workforce.
- The marketing firm expects to incur pre-tax restructuring and related charges of ~$4.5M-$5M as well as a non-cash charge related to the vesting of share-based awards of ~$2.5M.
- TechTarget ( TTGT ) expects to incur these non-recurring charges in Q4.
- The restructuring is projected to be substantially complete by the end of Q1 2023.
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TechTarget announces restructuring, to lay off 5% of workforce