New Relic Inc

NYSE:NEWR   3:59:51 PM EDT
54.25
-1.34 (-2.41%)
Debt Financing / Related, Layoffs, Restructuring / Reorganization

New Relic Inc Says On Aug. 17, Board Committed To A Restructuring Plan To Realign Its Cost Structure With Its Business Needs - Filing

Published: 08/18/2022 11:25 GMT
New Relic Inc (NEWR) - New Relic Inc - on August 17, Board Committed to a Restructuring Plan to Realign Its Cost Structure With Its Business Needs.
New Relic Inc - in Connection With Restructuring Plan, Co Will Be Reducing Its Workforce by About 90 Employees in U.S.new Relic - Expects to Incur Aggregate Charges of About $8.3 to $9.3 Million for Employee Terminations & Other Costs Associated With Restructuring Plan.
New Relic Inc - Expects That Most Restructuring Charges Will Be Cash Expenditures and That It Will Recognize Majority of These Costs in Q2 2023.