MarketWise (MKTW) has released an update.
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MarketWise, Inc. has announced a strategic overhaul involving the shutdown of its Legacy Research Group due to internal policy violations by management. The company aims to complete the reorganization within the first half of fiscal 2024, which will affect approximately 18% of its workforce, with efforts to reassign or eliminate positions. Despite a decline in net income for Legacy Research, the financial impact of this reorganization on MarketWise is yet to be determined. The CEO has communicated internally about the changes, emphasizing the company’s commitment to integrity in financial research and customer service continuity.
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