ComScore Inc. is cutting about 175 jobs, or 10% of its workforce. Meanwhile, Cameron Meierhoefer stepped down as executive vice president and COO of the company.
The company said Dec. 6 that its is reducing its staffing levels and exiting certain geographic regions to decrease its global costs and more effectively align resources to business priorities.
The majority of the employees impacted by the downsizing will exit the company in the fourth quarter, while the remainder are expected to leave the company in the first quarter of 2018. In connection with this reduction in force, comScore will incur certain exit-related costs, which are expected to range between $10 million and $12 million, consisting primarily of one-time termination benefits and associated costs, to be settled in cash.
Meierhoefer's resignation as COO is effective immediately. He will serve as a special adviser to the company until March 30, 2018.
The company also announced the appointment of Gregory Fink, the company's CFO and treasurer, as principal accounting officer.