In a regulatory filing, 8×8 announced a restructuring intended to focus resources on targeted market opportunities, reduce operating costs, improve operating margins, and continue advancing the company’s ongoing commitment to increasing levels of non-GAAP profitability and cash flow. The restructuring includes a reduction of the company’s current workforce by approximately 7% globally. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries, as well as the company’s business needs. The actions associated with this reduction in workforce are expected to be substantially complete by the end of the company’s first quarter of fiscal 2024 ending June 30, 2023, subject to local law and consultation requirements.
Published first on TheFly
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