- Comscore ( NASDAQ: SCOR ) is cutting jobs, consolidating in areas, and may exit some activities in certain regions as part of a restructuring plan, it says.
- In an SEC filing , the company says it communicated a workforce reduction as part of broader efforts to improve cost efficiency and better align structure and resources with strategic priorities.
- Along with job cuts, the plan is expected to include "reallocation of commercial and product development resources; reinvestment in and modernization of key technology platforms; consolidation of data storage and processing activities to reduce the Company's data center footprint; and reduction of other operating expenses, including software and facility costs."
- It's currently estimating exit-related costs of $13M-$18M: about $6M-$8M for severance and related costs; $6M-$8M for data center reduction; and $1M-$2M for other costs including legal, consulting and other fees.
- The implementation of the plan, including cash payments, should be substantially complete in the fourth quarter of 2023, it says.
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Comscore cutting jobs in restructuring plan, taking $13M-$18M in charges