In the US, Comscore has set out a cost-cutting restructuring plan, which will see an undisclosed number of employees lose their jobs.
Disclosed through a filing with the Securities and Exchange Commission (SEC), Comscore's plan involves a workforce reduction as part of the company's 'broader efforts to improve cost efficiency and better align its operating structure and resources with strategic priorities'. In the filing, Comscore said that costs associated with the plan include cash charges of approximately $6m to $8m for severance, termination benefits and related costs for impacted employees.
The company said its restructuring plan also includes the reallocation of commercial and product development resources; reinvestment in and modernization of key technology platforms; and consolidation of data storage and processing activities to reduce its data center footprint. The plan will also involve reduction of other operating expenses, including software and facility costs.
Last month, Comscore posted a 4.3% increase in second quarter revenue to $91.4m, while net loss for the period dropped from $18.5m in Q2 2021 to $5.1m. During the most recent period, Digital Ad Solutions revenue fell 1.7% to $51.6m, which the company said was due to slower ad spend.
The firm, which is led by recently appointed CEO Jon Carpenter (pictured), is online at www.comscore.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.