Udemy, Inc. (UDMY): restructuring charge — Udemy commits to restructuring plan affecting ~280 employees; expects $16-19M charges

Udemy, Inc.

Plan impacts ~280 global employees; expects to rehire ~half in lower-cost geographies.
Restructuring charges $16-19M for severance and benefits, recognized Q3 2024 through Q1 2025.
Cash payments spread over several fiscal quarters; restructuring completion targeted by March 31, 2025.
Previously announced July 31, 2024 as part of operational efficiency initiative.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 1.0

Udemy, Inc. announced a restructuring with charges of between $16 million and $19 million (approximately 280 of the Company's global employees).

Type: restructuring
Charge: between $16 million and $19 million
Headcount: approximately 280 of the Company's global employees

Exact text from the filing

on September 11, 2024, the Company committed to a restructuring plan that will impact approximately 280 of the Company's global employees. The Company expects to rehire approximately half of the impacted roles, primarily in lower cost geographies. As a result, the Company expects to recognize restructuring charges between $16 million and $19 million

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

Udemy, Inc. filing history →

Source: SEC EDGAR

accession 0001607939-24-000172

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