Cable One Expects To Reduce Its Total Employee Headcount By Approximately 4% - Filing
Portfolio Pulse from Benzinga Newsdesk
Cable One announced a 4% reduction in its total employee headcount to streamline operations and enhance customer service. The company expects to incur $7 million in pre-tax charges related to severance and termination benefits, with most charges occurring in Q2 2024. Annual cost savings of $14 million are anticipated once changes are fully implemented.
June 13, 2024 | 8:21 pm
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Cable One is reducing its workforce by 4%, incurring $7 million in pre-tax charges in Q2 2024, and expects $14 million in annual cost savings.
The workforce reduction and associated cost savings are likely to improve Cable One's financial performance in the long term. The $7 million in pre-tax charges are a short-term expense, but the $14 million in annual cost savings will positively impact the company's profitability.
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