Gemini Space Station, Inc. (GEMI): restructuring charge — Gemini to cut 25% workforce, exit UK/EU/Australia, incur $11M charges

Gemini Space Station, Inc.

Plan includes reduction of up to 200 employees (~25% of global workforce) and exit from UK, EU, and Australia; US and Singapore operations continue.
Pre-tax restructuring charges estimated at ~$11M, substantially all cash, expected in Q1 2026.
Workforce previously reduced from ~1,100 peak to ~550; this additional cut aims to accelerate profitability.
Co-founders cite AI efficiency and prediction market focus; prediction product launched mid-Dec with $24M traded volume.
Completion expected in first half 2026, subject to local law and consultation requirements.

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

Gemini Space Station, Inc. announced a restructuring with charges of approximately $11 million affecting United Kingdom, the European Union and other European jurisdictions, and Australia (up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximat).

Type: restructuring
Charge: approximately $11 million
Affected area: United Kingdom, the European Union and other European jurisdictions, and Australia
Headcount: up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximat

Exact text from the filing

law and consultation requirements. In connection with the Plan, the Company currently estimates that it will incur pre-tax restructuring and related charges of approximately $11 million, substantially all of which are expected to result in cash expenditures. These charges are expected to consist of employee-related costs, including severance payments, notice pay

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

Gemini Space Station, Inc. filing history →

Source: SEC EDGAR

accession 0002055592-26-000008

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