Digimarc to reduce global workforce by 90 employees

Digimarc (DMRC) announced a reduction of its global workforce, which could impact up to 90 employees, “to streamline the Company’s team structure to better align with its long-term growth initiatives and profitability objectives.” Digimarc expects this reorganization to be substantially complete in Q1. Digimarc estimates that it will incur approximately $3M in costs during Q1 in connection with the reorganization. The reorganization is expected to reduce the company’s cash expenses by approximately $16.5M on an annualized basis, and result in approximately $5.5M of other annualized cash cost savings.