Quarterhill announces workforce reduction of approximately 100 positions

Quarterhill (QTRHF) announced a workforce reduction of approximately 100 positions, representing approximately 15% of total headcount. This strategic initiative is intended to reduce costs, accelerate the path toward sustainable positive Adjusted EBITDA and operating cash flow, and better align resources with our long-term strategic priorities and those of our customers. The reduction, affecting both contract and full-time roles in roughly equal measure, is expected to generate annualized cost savings of approximately $12M. The reduction is primarily focused on operational areas that affect cost of sales, with a partial benefit to be realized in 2025 and the full benefit expected in 2026.