---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-162681"
form_type: "8-K"
ticker: null
cik: "0001391127"
company_name: "Edgio, Inc."
filed_at: "2023-06-07T23:59:59+00:00"
generated_at: "2026-06-14T05:42:16.454059+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Edgio approves restructuring plan to cut 12% of workforce; expects $23.7M annual savings

## Summary
- Board approved restructuring on June 6, 2023; reduction of ~134 employees (~12% of global workforce) by Q4 2023.
- Estimated restructuring charges of ~$3.7 million in cash for severance and health benefits.
- Company expects net annual savings of ~$23.7 million from the restructuring plan.
- 2023 annual meeting delayed; no date set due to pending restatement of financials for Open Edge solution.
- In litigation with College Top Holdings, agreed not to enforce certain stockholder agreement provisions for 2023 meeting.

## SEC filing metadata
- accession: 0001193125-23-162681
- form_type: 8-K
- cik: 0001391127
- company_name: Edgio, Inc.
- filed_at: 2023-06-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 5.08, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/0001193125-23-162681-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/d497499d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-162681
- JSON: https://secwatch.observer/filing/0001193125-23-162681.json
- Plain text: https://secwatch.observer/filing/0001193125-23-162681.txt

## Key facts
- Restructurings & Charges
  Edgio, Inc. announced a restructuring with charges of approximately $3.7 million (approximately 134 employees, or approximately 12% of the Company's global workforce).
  - Type: restructuring
  - Charge: approximately $3.7 million
  - Headcount: approximately 134 employees, or approximately 12% of the Company's global workforce
  source text: global workforce, to be implemented through the fourth quarter of 2023 (the “Reduction in Force”). The Company estimates that Restructuring Plan charges will be approximately $3.7 million and will be recorded as restructuring expenses which consist of one-time severance charges and continuation of health benefits. The foregoing estimated charges will be cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/0001193125-23-162681-index.htm

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