Plus   Neg

YuMe To Cut 3% Of Its Workforce

YuMe, Inc. (YUME), which recently agreed to be acquired by RhythmOne plc (RTHM.L), disclosed in a regulatory filing about its plan to restructure and streamline certain of its operations to further reduce operating expenses and streamline and focus its European operations on its programmatic business.

YuMe's main elements of restructuring plan include a workforce reduction of approximately 3% by the end of 2017 and real estate consolidation focused in the U.K.

The company currently expects the workforce reduction to result in one-time severance costs of approximately $0.2 million and all other actions under the plan, including the real estate consolidation, to result in costs of approximately $0.1 million to $0.3 million in the fourth quarter of 2017.

YuMe expects this restructuring plan to focus on its operations in the United Kingdom, will be implemented before the end of the first quarter of 2018 and is currently expected to result in fourth quarter 2017 cost savings of approximately $0.4 million to $0.6 million.

YUME closed Friday's trading session at $4.50.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Facing criticism from the government's top ethics watchdog, Commerce Secretary Wilbur Ross revealed Thursday he will sell all of his remaining stock holdings. A well-known investor prior to joining President Donald Trump's administration, Ross acknowledged making inadvertent errors in completing the divestitures required by his ethics agreement. Worldwide personal-computer shipments grew for the first time in six years during the second quarter of 2018, according to preliminary data from two market research firms. Gartner Inc. said that worldwide PC shipments increased 1.4 percent year-over-year to 62.1 million units in the second quarter of 2018, marking the first quarter of growth since the first quarter of 2012. The Centers for Disease Control and Prevention or CDC has recommended people to not eat any Kellogg Co.'s Honey Smacks cereal as it has been linked to a multistate outbreak of salmonella infections. According to the CDC, 100 people in 33 states have been infected with the outbreak strain. While 30 people have been hospitalized, no deaths have been reported.
Follow RTT