Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 1.0
Viant Technology Inc. announced a restructuring with charges of Non-recurring charges of approximately $1.2 million primarily consisting of cash severance payments, employee benefits and related costs affecting Company-wide (46 employees).
- Type
- restructuring
- Charge
- Non-recurring charges of approximately $1.2 million primarily consisting of cash severance payments, employee benefits and related costs
- Affected area
- Company-wide
- Headcount
- 46 employees
Exact text from the filing
Item 2.05 Costs Associated with Exit or Disposal Activities. On December 9 , 2022, Viant Technology Inc. (the “Company”) approved a plan to reduce the Company’s current workforce by 46 employees , representing approximately 13% of the Company’s total workforce. This decision was based on cost-reduction initiatives intended to reduce operating expenses and sharpen the Company’s focus on key growth priorities in light of the current adverse macroeconomic environment. The Company expects that the reduction in force will be substantially completed within approximately 60 days of December 9 , 2022. The Company currently estimates that it will incur non-recurring charges of approximately $1.2 million in connection with the reduction in force, primarily consisting of cash severance payments, employee benefits and related costs. The Company expects that substantially all of these charges will be incurred in the fourth quarter of 2022. Of the total charges, substantially all charges are expecte
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