Olo Reduces Of Its Workforce By ~11%; Will Incur Charges Of Approximately $7.5M To $10.0M In Connection With Reduction Of Its Workforce
Portfolio Pulse from Benzinga Newsdesk
Olo, a cloud-based e-commerce platform, is reducing its workforce by approximately 11%, resulting in charges of $7.5M to $10.0M.
June 14, 2023 | 1:14 pm
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Olo's workforce reduction of 11% may lead to short-term cost savings, but could impact long-term growth.
Olo's decision to reduce its workforce by 11% will result in charges of $7.5M to $10.0M. While this may lead to short-term cost savings, it could negatively impact the company's long-term growth and ability to compete in the market. Investors should be cautious about the potential effects of this decision on the company's future performance.
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