New Relic plans to reduce its workforce by up to 255 employees globally, inclusive of employees previously exited in May and early June as part of the reorganization of specific functions and performance management.
- Expects to incur about $18 million to $22 million restructuring charges
- Sees about 75% of these charges as cash expenditures
- Expects to recognize the majority of costs in 1Q 2024
- Plans to hire about half of the reduced headcount in targeted areas to address opportunities for consumption business growth going forward
- Expects to end fiscal year 2024 at approximately the same headcount as of the end ...
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