RGP announces workforce reduction, expects $8-10M annual savings; reaffirms Q2 guidance

RESOURCES CONNECTION, INC.

Authorized reduction of global management/administrative workforce on Dec 2, 2024.
Expected cost savings of $4-5M in H2 FY2025 and $8-10M annually thereafter.
Restructuring charges of $2.5-3.0M in Q3 FY2025; cash termination benefits; completion by end of Q3.
Reaffirms Q2 FY2025 guidance: revenue $135-140M, gross margin 36-37%, run-rate SG&A $48-50M.
Q2 FY2025 results to be reported on January 2, 2025.

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