Cable One (CABO) plans to reduce its workforce by about 4% as part of efforts to streamline operations, the company said in a Thursday regulatory filing.
The job cuts are expected to result in roughly $7 million in pre-tax charges, comprising of cash expenditures related to employee severance and other one-time termination benefits. Substantially all of the charges are anticipated to be incurred in Q2, the company said.
Cable One estimates to generate about $14 million in annual run-rate cost savings once the layoffs are completed.
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