Absolute Software Cuts 5% Of Jobs

(RTTNews) - Absolute Software (ABST, ABST.TO) said that it reduced overall headcount by about 40 people, which represents about 5 percent of total employees, and will lead to office space reductions.

The company estimates that it will incur non-recurring charges of about $1.8 million to $2.8 million in connection with the restructuring.

The company expects that the majority of the restructuring charges will be incurred in the fourth quarter of fiscal 2023 and that the implementation of the headcount reductions, including cash payments, will be substantially complete by the end of the fourth quarter of fiscal 2023.