Ontrak Inc

NASDAQ:OTRK   3:59:57 PM EDT
9.15
-0.15 (-1.61%)
Layoffs, Other Pre-Announcement

Ontrak Intends To Reduce ~35% Of Positions, Predominately Within Departments Directly Supporting Contract

Published: 03/19/2021 21:27 GMT
Ontrak Inc (OTRK) - Ontrak Inc - Intends to Reduce Approximately 35% of Positions, Predominately Within Departments Directly Supporting Contract.
Ontrak Inc - Estimates One-time Costs of Approximately $1.5 Million of Termination Benefits to Impacted Employees.
Ontrak Inc - Expects to Complete Reduction in Workforce Plan by End of Q2 in 2021.
Ontrak Inc - Expects to Bring Back Capacity to Scale Appropriately As New Or Expanded Customer Relationships Are Onboarded From Its Pipeline.