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Edgio to cut 12% of its workforce to reduce cost

Jun. 08, 2023 1:55 PM ETEdgio, Inc. (EGIO)By: Vansh Agarwal, SA News Editor
  • Edgio (NASDAQ:EGIO) said on Wednesday that it is cutting about 12% of its workforce or 134 employees to reduce operating costs.
  • The restructuring changes will be implemented through 4Q23 and will cost around ~$3.7M.
  • The Company expects to generate ~$23.7M in net annual savings.
  • Edgio shares +3.6%.
  • Press Release

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