Starry Group Holdings, Inc.: restructuring charge — Starry Group cuts 100 jobs (24% of workforce) to reduce costs

Starry Group Holdings, Inc.

Reduction of ~100 employees, or ~24% of total workforce, effective Jan 23, 2023.
Estimated one-time cash charges of ~$0.8M for severance and benefits, mostly in Q1 2023.
Expected ~$12M in annual cash operating expense savings from foregone salaries and benefits.
Non-cash savings of ~$5.3M from cancellation of unvested equity awards; $0.5M reversal in Q1.
Company cites cost-reduction focus on serving existing core markets and customers.

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

Starry Group Holdings, Inc. announced a restructuring with charges of approximately $0.8 million (approximately 100 employees, representing approximately 24% of the Company’s total workforce).

Type: restructuring
Charge: approximately $0.8 million
Headcount: approximately 100 employees, representing approximately 24% of the Company’s total workforce

Exact text from the filing

and allow the Company to focus on serving its existing core markets and customers. The Company currently estimates that it will incur one-time cash charges of approximately $0.8 million in connection with the reduction in force, primarily consisting of notice period and severance payments, employee benefits and related costs. The Company expects that the

View on SEC.gov

Browse all restructurings & charges →

Source: SEC EDGAR

accession 0000950170-23-000841

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.