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LegalZoom (LZ) has shared an update.
LegalZoom has announced a significant restructuring initiative to realign its business and reduce costs, which will see a 15% reduction in its workforce from the levels on June 30, 2024. This move is projected to result in around $5 million in charges, mainly due to severance payouts, with the bulk expected in the third quarter of 2024. Further details and financial outcomes of this decision are accessible on LegalZoom’s Investor Relations website, although the company cautions that these forward-looking statements carry risks and uncertainties.
See more insights into LZ stock on TipRanks’ Stock Analysis page.