BRIEF-Wejo Group Ltd - Plan To Reduce Company's Workforce By Approximately 40 Employees

Reuters2023-03-23

March 23 (Reuters) - Wejo Group Ltd :

* WEJO GROUP LTD - PLAN TO REDUCE COMPANY'S WORKFORCE BY APPROXIMATELY 40 EMPLOYEES

* WEJO GROUP LTD - CO CURRENTLY ESTIMATES THAT IT WILL PAY APPROXIMATELY $1.8 MILLION IN CONNECTION WITH THE REDUCTION IN FORCE

* WEJO GROUP LTD - CURRENTLY EXPECTS REDUCTION IN FORCE TO RESULT IN ABOUT $10 MILLION IN ANNUALIZED CASH OPERATING EXPENSE SAVINGS

* WEJO GROUP LTD - COST CUT DECISIONS TO TARGET CASH FLOW POSITIVE OPERATIONS PRIOR TO THE END OF THE FIRST HALF OF 2024

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;;))

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