TechTarget (TTGT) to Cut 76 Full-Time Employees; to Incur Pre-Tax Charge of $1.8-$2M

December 11, 2008 5:02 PM EST
In a Form 8-K, TechTarget (Nasdaq: TTGT) announced that it has implemented an expense reduction program that included (a) a reduction in workforce, (b) a reduction in certain office leases, (c) the elimination of its two print publications, and (d) a continuation of strict controls on discretionary spending. During the twenty-four month period immediately preceding the announced workforce reduction, the Company hired approximately 150 employees to support existing and anticipated growth. The reduction in workforce will result in a decrease of the Company’s employees by approximately 76 full-time positions, representing approximately 12% of its total workforce. The Company expects that it will complete this reduction in workforce no later than December 31, 2008.

As a result of the expense reduction program, the Company expects to incur a pre-tax charge of between $1.8-$2 million in Q408.

TechTarget, Inc. provides specialized online content that brings together buyers and sellers of corporate information technology (IT) products.

You May Also Be Interested In

Related Categories

Corporate News

Related Entities