On November 29th, Fastly announced a restructuring plan: laying off 11% of its workforce to address challenges
I'm PortAI, I can summarize articles.
Fastly recently announced a restructuring plan, laying off about 11% of its employees. This move is in response to the challenges the company is facing. Fastly expects to incur approximately $9.5 million to $10 million in expenses in the third quarter of 2024, mainly including severance pay and employee benefits. The company's stock price fell by over 14% on Thursday, with a cumulative decline of nearly 67% for the year. In the second quarter, Fastly saw revenue growth, but net losses also increased. The CEO stated that this adjustment will allow the company to focus on edge cloud innovation and market transformation
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments