FORRESTER RESEARCH, INC. (FORR): restructuring charge — Forrester Research cuts 4% workforce; expects $4.6M-$5.1M in severance costs

FORRESTER RESEARCH, INC.

Workforce reduction of ~4% across geographies and functions.
Pre-tax expenses of $4.6M to $5.1M in Q4 2022 and Q1 2023 for cash severance and benefits.
Notifications began Jan 3, 2023, expected completion by Jan 27, 2023.

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

FORRESTER RESEARCH, INC. announced a restructuring with charges of $4.6 million to $5.1 million affecting across various geographies and functions (approximately 4% of its employees).

Type: restructuring
Charge: $4.6 million to $5.1 million
Affected area: across various geographies and functions
Headcount: approximately 4% of its employees

Exact text from the filing

On January 11, 2023, the Company announced a reduction in its workforce of approximately 4% of its employees across various geographies and functions. Notification to affected persons commenced January 3, 2023 and is expected to be completed by January 27, 2023. The Company expects to incur pre-tax expenses of $4.6 million to $5.1 million in the fourth quarter of 2022 and first quarter of 2023 related principally to cash severance and related benefit costs for terminated employees.

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FORRESTER RESEARCH, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-006469

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