By Sabela Ojea
Udemy said it would reduce its workforce in a new wave of layoffs as part of its turnaround plan, expected to be completed by March.
The education technology company on Monday said that about half of the 280 employees that would be affected by the restructuring would be rehired, primarily in lower cost geographies.
As a result, the company expects charges between $16 million and $19 million, to be recognized from the third quarter 2024 to the first quarter 2025.
The company, which cut about 10% of its workforce in February 2023, ended 2023 with 1,443 full-time employees, according to its annual filing with the Securities and Exchange Commission.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
September 16, 2024 18:13 ET (22:13 GMT)
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