NEWS22 August 2019

Comscore plans to cut headcount

Financials News North America

US – Comscore is to cut its workforce by 8% as part of efforts to reorganise the company’s technology, product and sales organisations.

In a Securities and Exchange Commission (SEC) filing, the company said it is “implementing a reduction in force plan that is expected to result in the termination of approximately 8% of the company’s workforce”.

The majority of the employees affected will leave the business during the third quarter of the year, according to the filing.

The company expects to incur costs ranging between $1.5m and $2.5m in connection with the layoffs. Reducing headcount is expected to decrease the company’s annual operating costs by over $20m, it said.

Comscore’s revenue declined 4.4% to $96.9m in the second quarter of the year, with the company saying it was conducting a strategic review “of all options”. Last week, board member Paul Reilly resigned.