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The Company expects to recognize restructuring charges in connection with the workforce reduction plan, including severance, outplacement services, and benefits continuation.
It estimates that the foregoing charges will range between $1.8 million to $2.0 million, and expects the charges will be recognized and paid primarily in the first quarter of 2025. The substantial majority of these charges will result in cash expenditures, and the reduction in workforce plan is expected to be substantially complete by the end of the first quarter of 2025.
Annual pre-tax savings are estimated to be approximately $4.0 million, which the Company expects to realize beginning primarily in the second quarter of 2025 and beyond.
Posted In: BZFD
