Compass Inc - Ordinary Shares - Class A

NYSE:COMP   3:59:59 PM EDT
3.79
-0.27 (-6.65%)
Layoffs, Earnings Announcements

Compass Inc To Eliminate About 10% Of Current Workforce

Published: 06/14/2022 16:18 GMT
Compass Inc - Ordinary Shares - Class A (COMP) - Compass Inc - Strategic Actions Include Elimination of Approximately 10% of Company's Current Workforce Consisting of Approximately 450 Positions.compass Inc - Committed to and Communicated a Workforce Reduction Plan and a Wind-down of Modus Technologies, Inc.compass Inc - Shutdown of Modus is Not a Reflection of Any Plans to Depart From Company's Commitment to Title & Escrow Services.compass Inc - Currently Estimates It Will Incur Total Pre-tax Charges of Approximately $21.5 Million to $23 Million During Quarter Ending June 30, 2022.compass Inc - Committed to and Communicated a Workforce Reduction Plan and a Wind-down of Modus Technologies.compass Inc - Planned Pause in M&a Activity and New Market Expansion for the Remainder of 2022.compass - to Incur a Pre-tax Cash Charge of About $15 Million to $16 Million for Severance, Other Termination Benefits for Employee Roles Being Eliminated.compass Inc - Actively Assessing the Real Estate Leases Related to Modus.compass - Transformation Plan Expected to Include Actions Such As Reduction in U.S. Hiring & Backfills Due to Attrition in H1 2022, Expected for Remainder of Year.compass Inc - Transformation Plan Expected to Include Actions Such As Review of Occupancy Costs With View to Consolidating Offices, Reducing Related Costs.compass Inc - Additional Charges of Up to $4.5 Million May Be Incurred As the Modus Lease Portfolio is Ultimately Exited.
Revenue is expected to be $2.13 Billion
Adjusted EPS is expected to be -$0.17

Next Quarter Revenue Guidance is expected to be $2.17 Billion
Next Quarter EPS Guidance is expected to be -$0.12

More details on our Analysts Page.