Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Erik Fowler was terminated as Chief Revenue Officer at LiveVox Holdings, Inc..
- Action
- terminated
- Role
- Chief Revenue Officer
Exact text from the filing
On January 13, 2023, the employment of Erik Fowler, our former Chief Revenue Officer, was terminated, to be effective January 20, 2023, in connection with the CRP.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
LiveVox Holdings, Inc. announced a restructuring with charges of in the range of $3.0 million to $3.5 million (approximately 96 employees, comprising approximately 16% of the Company’s global workforce).
- Type
- restructuring
- Charge
- in the range of $3.0 million to $3.5 million
- Headcount
- approximately 96 employees, comprising approximately 16% of the Company’s global workforce
Exact text from the filing
On January 13, 2023, LiveVox Holdings, Inc. (the “Company”) authorized a new cost reduction plan (the “CRP”). Management, with the oversight and guidance of the Company’s board of directors, determined to implement the CRP following a review of the Company’s business, operating expenses and the macroeconomic environment. The CRP is intended to reduce the Company’s cost structure and improve its operational efficiency. The CRP will include a reduction of approximately 96 employees, comprising approximately 16% of the Company’s global workforce. In connection with the CRP, the Company estimates that it will record an aggregate restructuring charge in the first quarter related to one-time termination benefits in the range of $3.0 million to $3.5 million, the substantial majority of which will result in cash expenditures.
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