Veritone (VERI) said late Wednesday that it has decided to implement a restructuring plan that includes a reduction in its workforce and in some third-party operating costs.
The firm said the plan will cut its workforce by at least 25% of its employee count in March. It expects to substantially complete the reduction by late July.
Veritone said it expects to achieve an annualized reduction of up to 30% of its operating expenses as compared to the trailing 12 months ended March 31, 2026.
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