BlackLine Expects To Reduce Its Global Workforce By Approximately 9.0%, Or 166 Total Employee Positions - Filing
Portfolio Pulse from Benzinga Newsdesk
BlackLine is planning to reduce its global workforce by approximately 9.0%, or 166 total employee positions, according to a recent filing. The company estimates that it will incur expenses of up to $9.0 million, primarily for severance and other termination benefits.
August 23, 2023 | 8:08 pm
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BlackLine's workforce reduction could lead to short-term operational disruptions, but may improve long-term profitability. The $9M severance cost will impact the company's financials in the short term.
Workforce reductions often lead to short-term disruptions as remaining employees adjust to new roles and responsibilities. However, they can also lead to long-term profitability improvements if the company can maintain productivity with fewer resources. The severance cost will have a direct impact on the company's financials in the short term.
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