Edgio Layoffs
December 2022
Edgio announced a layoff affecting 95 employees (10% of its workforce) in December 2022. The company operates in the Infrastructure sector.
95
10%
Dec 13, 2022
About
In December 2022, Edgio, Inc., an IT services and consulting company, approved a restructuring plan to reduce operating costs and optimize its business model. As part of this initiative, the company announced a reduction in force affecting approximately 95 employees, which represents about 10% of its global workforce. The layoffs are expected to be implemented through the second quarter of 2023 and are projected to result in approximately $14 million in net annual savings. Concurrently, the company's Chief Growth Officer departed, with his duties being assumed by the CEO.
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