secwatch.observer — SEC 8-K summary
======================================

Issuer:     TERADATA CORP /DE/ (TDC)
CIK:        0000816761
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0000816761-24-000143
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/816761/000081676124000143/0000816761-24-000143-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/816761/000081676124000143/tdc-20240805.htm
  HTML page:      https://secwatch.observer/filing/0000816761-24-000143

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer