Today, DHI Group (NYSE:DHX), Inc. disclosed plans for organizational restructuring, including a workforce reduction of approximately 7%, as detailed in their latest SEC filing. The company aims to streamline operations, support business objectives, and cut operating costs.
The Centennial, Colorado-based company, which operates under the services-business services industry, expects these changes to save between $4 million and $6 million annually. However, it anticipates incurring about $1.1 million in cash charges for employee severance and related benefits. These charges are projected to be recognized in the third quarter of 2024, with the cash payments largely completed by year-end.
The restructuring process is slated to be substantially concluded by the end of the third quarter of 2024, in compliance with local laws and consultation requirements. The company cautions that the actual costs and savings could vary significantly from these estimates due to various assumptions and the potential for unforeseen events related to the restructuring.
DHI Group, which is listed on the New York Stock Exchange under the ticker NYSE:DHX, also warned of possible additional charges or expenditures not currently foreseen in connection with the restructuring activities.
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