Ontrak Inc

-0.06 (-11.57%)
Debt Financing / Related, Layoffs, Restructuring / Reorganization

Ontrak Approved A Restructuring Plan

Published: 08/19/2022 21:05 GMT
Ontrak Inc (OTRK) - Ontrak Inc - on August 18, Approved a Restructuring Plan.
Ontrak - Intends to Reduce About 34% of Positions, $7.7 Million of Annual Compensation Related Costs, About $3.0 Million of Annual Third Party Costs.
Ontrak Inc - Estimates One-time Costs of About $0.7 Million of Termination Benefits to Impacted Employees.
Ontrak Inc - Expects to Complete Restructuring Plan by End of Q3 of 2022.