Teradata Plans Restructuring That Will Result In Reduction Of Workforce Affecting Approximately 9% To 10% Of Global Workforce
Portfolio Pulse from Benzinga Newsdesk
Teradata announced a global restructuring plan that will reduce its workforce by 9% to 10%, aiming to optimize operations and drive long-term growth. The restructuring is expected to save $75 to $80 million annually, with most savings realized in 2024 and 2025.
August 05, 2024 | 8:51 pm
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Teradata's restructuring plan will reduce its workforce by 9% to 10%, aiming to save $75 to $80 million annually. The savings will be reinvested in growth areas starting in 2025.
The restructuring plan is likely to have a positive short-term impact on Teradata's stock price due to significant cost savings and a focus on long-term growth. However, workforce reductions may have some negative sentiment.
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