OneSpan board approves restructuring plan targeting $10-12M annual savings

OneSpan Inc.

Board approved plan on Dec 16, 2021; expected to achieve $10-12M annual pre-tax cost savings for FY2022.
Total charges of $3-4M expected in Q1 2022, primarily severance ($2.75-3.75M) and office space ($250K).
Cost savings from headcount reductions, decreased leased office space, and external spend rationalization.
Plan is first phase of a multi-year strategic plan; additional details expected in Q2 2022.

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