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Layoffs, Restructuring / Reorganization, Other Pre-Announcement

Taboola Announces Cost Restructuring To Ensure Continued Profitable Growth

Published: 09/13/2022 20:19 GMT Ltd (TBLA) - Taboola Announces Cost Restructuring to Ensure Continued Profitable Growth and Free Cash Flow. Ltd - Reaffirming Q3 Guidance and Expects to Generate Over $152m in Adjusted EBITDA in 2022. Ltd- Cost Savings Achieved Via a Workforce Reduction of Approximately 6%. Ltd - Expect to Reduce 2023 Operating Expenses by $50 Million. Ltd - Expects Program to Be Largely Completed by Year-end With a Majority of Changes Taking Place in 2022. Ltd- Cost Savings Achieved Via $23m Reduction in Discretionary Expenses and $15m Reduction in Capex in 2023 As Well. Ltd- Realigning and Restructuring Teams to Focus on Three Top Priorities: Performance Advertising, E-commerce and Header Bidding.