secwatch / observer
8-K filed December 15, 2022, 6:59 PM ET ticker CMRC CIK 0001626450
other material confidence high sentiment neutral materiality 0.65

Commerce.com, Inc. (CMRC): restructuring charge — BigCommerce cuts workforce 13% to accelerate adjusted EBITDA breakeven to Q4 2023

Commerce.com, Inc.

item 2.05item 7.01item 9.01

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

Commerce.com, Inc. announced a restructuring with charges of approximately $4.2 million to $4.6 million affecting current workforce (approximately 13%, consisting of 9% employees and 4% contractors).

Type
restructuring
Charge
approximately $4.2 million to $4.6 million
Affected area
current workforce
Headcount
approximately 13%, consisting of 9% employees and 4% contractors
Exact text from the filing
On December 14, 2022, BigCommerce Holdings, Inc. (the “Company”) committed to a plan to reduce the Company’s current workforce by approximately 13%, consisting of 9% employees and 4% contractors. The decision was based on cost-reduction initiatives intended to reduce the Company’s cost structure and accelerate its path to profitability. The Company currently estimates that it will incur one-time cash charges of approximately $4.2 million to $4.6 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs.
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Commerce.com, Inc. filing history →

Source: SEC EDGAR
accession 0001193125-22-305254
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