MeridianLink to cut workforce by about 9% in organizational realignment

In a regulatory filing yesterday, MeridianLink disclosed that on January 8, the board of directors authorized an organizational realignment plan that is “designed to manage operating costs, enable efficient delivery on business objectives, and allow for growth in areas of strategic importance.” The plan includes a reduction of the company’s current workforce by approximately 9%. The company estimates that it will incur charges of approximately $3.3M to $4.3M in connection with the Plan, consisting primarily of cash expenditures and relating to employee severance payments, employee benefits, and employee transition costs. The actions associated with the workforce reduction under the Plan are expected to be substantially complete by the end of the first quarter of 2024, subject to local law and consultation requirements.