LiveRamp Holdings, Inc. (RAMP): restructuring charge — LiveRamp announces 10% workforce reduction, real estate downsizing; expects $30-35M annual savings

LiveRamp Holdings, Inc.

Reduction in force of approximately 10% of full-time employees to simplify operations.
Annualized operating expense savings estimated at $30 million to $35 million.
Restructuring charges: ~$5M in severance/benefits; $14M-$17M for real estate in Q3/Q4 FY2023.
Already incurred $12M real estate restructuring charge in Q2 FY2023.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

LiveRamp Holdings, Inc. announced a restructuring with charges of approximately $5 million of restructuring and related charges primarily related to employee severance and benefits costs and approximately $14 million to $17 mi (approximately 10% of our full-time employees).

Type: restructuring
Charge: approximately $5 million of restructuring and related charges primarily related to employee severance and benefits costs and approximately $14 million to $17 mi
Headcount: approximately 10% of our full-time employees

Exact text from the filing

our business processes. These actions are expected to result in annualized operating expense savings of $30 million to $35 million. We estimate that we will incur approximately $5 million of restructuring and related charges primarily related to employee severance and benefits costs and approximately $14 million to $17 million of charges related to the real estate

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LiveRamp Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000733269-22-000038

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