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Kubient (KBNT) has issued an announcement.
Kubient, Inc. is slashing its workforce by 50%, which equates to two employees, as part of a strategy to cut operating costs amidst a potential shutdown of the business. This move is anticipated to significantly reduce annual payroll expenses. Additionally, the company’s former Chief Technology Officer, Mitchell Berg, was terminated and is set to receive severance and benefits, including half a year’s salary and healthcare coverage. While these actions are expected to streamline costs, they come with risks and uncertainties that could impact the company’s financial future.
Find detailed analytics on KBNT stock on TipRanks’ Stock Analysis page.