secwatch.observer — SEC 8-K summary
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Issuer:     Funko, Inc. (FNKO)
CIK:        0001704711
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001193125-23-197743
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Funko reduces workforce by 12-13% (~180-200 jobs); expects $2.4-2.8M charges, $20-22M annual savings
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- Reduction of approx 180-200 employees (12-13% of total workforce).
- Expects one-time charges of $2.4M to $2.8M, mostly in Q3 2023, primarily cash severance.
- Anticipates annualized run rate cash savings of $20M to $22M from the reduction.
- Part of initiative to rebalance cost structure into prioritized areas for long-term growth and margin improvement.
- Company may incur additional expenses not currently contemplated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1704711/000119312523197743/0001193125-23-197743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1704711/000119312523197743/d542218d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-197743

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