Tucows subsidiary Ting Fiber lays off ~72 employees (13% of Ting workforce) under restructuring plan with $4M charges

TUCOWS INC /PA/

Restructuring plan impacts approximately 72 employees, or 13% of Ting's workforce and 7% of Tucows' total workforce.
Estimated non-recurring charges of ~$4 million, primarily severance, notice pay, and benefits contributions.
Majority of headcount reductions and restructuring charges expected in Q1 2024.
Plan aims to lower year-over-year operating expenses for the Ting business.

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