ComScore Inc. will cut about 8% of the company's workforce.
The job cuts come as the company is reorganizing its technology, product and sales organizations to optimize its focus on core areas of growth, according to an Aug. 21 Form 8-K filing. The majority of the employees impacted by the reduction in force will exit comScore in the third quarter.
In connection with job cuts, the company will incur certain exit-related costs in the range of $1.5 million and $2.5 million, consisting mainly of one-time termination benefits and associated costs, to be settled in cash.
Together with recent attrition, the reduction in force is expected to decrease the company's annualized operating costs by more than $20 million, a portion of which will be realized beginning in the third quarter.
