The Trade Desk will cut 15 percent of its workforce and book up to $51m in cash charges
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Fifteen percent.
That is the share of its workforce The Trade Desk plans to remove. The company expects to substantially complete the plan in the third quarter, according to a Form 8-K filed Friday.
The advertising technology company estimates $39m to $51m in cash restructuring and related charges for severance and benefits. A $4m to $5m reversal of stock-based compensation will partly offset those costs. It expects to recognize the accrual in the third quarter.
No job count was disclosed.
The company said the plan will align resources with its priority growth opportunities and improve operational effectiveness. It also said unanticipated events could produce other charges or cash spending, and promised an amended filing if the amounts differ materially from its estimates.
