LiveRamp Holdings (RAMP) announced a workforce cut of 5%, or 65 full-time employees, and forecast a fiscal Q4 GAAP operating loss of $13 million, more than expected a month earlier.
Restructuring charges related to the job cuts will be $6.5 million, net of a $1.5 million decrease in stock-based compensation expense, the company said Friday in a regulatory filing. Revenue and non-GAAP operating income guidance was reaffirmed.
On Feb. 5, the company projected a GAAP loss from operations of $8 million for the quarter ending March 31.
LiveRamp shares fell 4.6% in recent Friday trading.
Price: 27.10, Change: -1.31, Percent Change: -4.61
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