Teradata to cut ~9-10% of workforce, expects $75-80M annual savings; Q2 results released

TERADATA CORP /DE/

Restructuring includes workforce reduction of ~9-10%, majority completed by end of 2024, remaining by end of 2025.
Expected ongoing annualized cost savings of $75-80 million, primarily from operating expense reductions.
Restructuring charges estimated at $20-25 million; cash expenditures $45-50 million, with most in 2024.
Company also issued Q2 FY2024 earnings results and Q3/full-year 2024 outlook in a separate press release.
Portion of savings to be reinvested into revenue-generating growth areas starting in 2025.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.