Eightco Holdings Inc. (ORBS): restructuring charge — Eightco Holdings cuts 6 jobs, estimates $0.3M charge; execs defer pay

Eightco Holdings Inc.

Workforce reduction of 6 employees across all areas, effective October 13, 2023.
Estimated one-time charge of $0.3 million in Q4 2023 for severance and outplacement.
CEO, CFO, and all directors have agreed to accrue all or portion of compensation until further notice.
Reduction aims to lower operating expenses and preserve capital for Forever 8 business expansion.

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

Eightco Holdings Inc. announced a restructuring with charges of approximately $0.3 million affecting all areas of the organization (6 employees).

Type: restructuring
Charge: approximately $0.3 million
Affected area: all areas of the organization
Headcount: 6 employees

Exact text from the filing

or a portion, of their compensation until further notice. As a result of this reduction in force, the Company estimates that it will record a one-time charge of approximately $0.3 million in the fourth quarter of 2023. The charge that the Company expects to incur in connection with the reduction in force is subject to a number of assumptions, and actual

View on SEC.gov

13 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Eightco Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-037736

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.