Absolute Software, a cybersecurity firm specializing in self-healing security solutions, implemented a restructuring plan on April 4, 2023, to reduce operating expenses. The company laid off approximately 40 employees, representing about 5% of its total workforce, and plans to reduce office space. This move is expected to incur non-recurring charges between $1.8 million and $2.8 million, primarily for severance and facility-related costs, with most actions to be completed by the end of its fiscal 2023 fourth quarter.
