---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-003076"
form_type: "8-K"
ticker: "BFLY"
cik: "0001804176"
company_name: "Butterfly Network, Inc."
filed_at: "2023-01-11T23:59:59+00:00"
generated_at: "2026-06-20T16:37:28.569919+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Butterfly Network to cut ~25% of workforce, expects $5-6M severance charges

## Summary
- Board approved plan on Jan 4, 2023 to reduce operating expenses and extend liquidity.
- Workforce reduction of approximately 25% across the company.
- Estimated cash charges of $5M to $6M for employee severance and benefits.
- Substantially all charges expected in Q1 and Q2 of 2023.
- Additional costs not currently contemplated may arise from the reduction.

## SEC filing metadata
- accession: 0001104659-23-003076
- form_type: 8-K
- ticker: BFLY
- cik: 0001804176
- company_name: Butterfly Network, Inc.
- filed_at: 2023-01-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804176/000110465923003076/0001104659-23-003076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804176/000110465923003076/tm233110d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-003076
- JSON: https://secwatch.observer/filing/0001104659-23-003076.json
- Plain text: https://secwatch.observer/filing/0001104659-23-003076.txt

## Key facts
- Restructurings & Charges
  Butterfly Network, Inc. announced a restructuring with charges of approximately $5 million to $6 million (approximately 25% of the Company’s workforce).
  - Type: restructuring
  - Charge: approximately $5 million to $6 million
  - Headcount: approximately 25% of the Company’s workforce
  source text: In addition to decreasing other operating expenses, the plan includes a reduction in force representing approximately 25% of the Company’s workforce. The Company estimates that it will incur between approximately $5 million to $6 million of cash charges related to employee severance and benefits costs, substantially all of which the Company expects to incur in the first and second quarters of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804176/000110465923003076/0001104659-23-003076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.