⌘K
t
On 04 May 2023, WANdisco plc announced it is undertaking a reorganisation and review process. This process is expected to reduce the Company's global headcount by approximately 30% upon completion.
| Date | 4 May 2023 |
| Time | 07:00:07 |
| Category | Corporate updates |
| ID | 3438Y |
04 May 2023
WANdisco plc
("WANdisco" or the "Company")
Organisation Update
WANdisco (LSE: WAND), the data activation platform, announces that it is undertaking a reorganisation and review process that would, upon completion reduce the Company's global headcount by approximately 30%.
These proposed actions are across all areas of the Company's operational and geographic footprint and individuals impacted are being consulted in accordance with local law with the provision of support and information on next steps. The Company has conducted a detailed review of the business which has indicated the need for difficult but necessary changes to the Company's size in order to position the Company for long-term growth and success.
Further to previously issued announcements, the Company has continued to trade in the ordinary course of business. Activity also continues to progress on various workstreams with the objective to lift the suspension of the Company's shares as soon as is practicable.
Kenneth Lever, Executive Chairman of WANdisco plc, commented:
"The proposal to reduce the Company's overall headcount was considered at great length. Regrettably, the proposed action is a necessary step to responsibly position WANdisco for long-term growth. We are working through the process as sensitively and supportively as we can, providing those directly impacted with as much information and support as possible and at all times in full compliance with local law."
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.
Enquiries:
|
WANdisco plc |
via FTI Consulting |
|
|
|
|
FTI Consulting Matt Dixon / Rob Mindell / Kwaku Aning / Tom Blundell |
+44 (0)20 3727 1137
|
|
Stifel (Nomad and Joint Broker) |
+44 (0)20 7710 7600 |
|
Fred Walsh / Richard Short / Tom Marsh |
|
|
Liberum (Joint Broker) Max Jones / William Hall |
+44 (0)20 3100 2000 |
About WANdisco
WANdisco is the data activation platform for accelerating digital transformation at scale. WANdisco makes infinite data actionable across clouds and enterprises in real time. WANdisco customers unleash the business value of the cloud with zero downtime, data loss, or disruption to fuel AI and machine learning, create new services, and transform businesses. For more information about WANdisco, visit: www.wandisco.com