Kaltura Inc. KLTR, a New York-based company that makes software for video recording, streaming and hosting, said Wednesday it’s planning to reduce its work force by about 11% as it works to position itself for lower demand, spend and budgets across its market segments. The company expects to book charges of about $16 million related to the move, it said in a regulatory filing. It will initially book pretax charges of about $1 million for severance and related costs in the first quarter of 2023 and expects to complete the plan in the first half. Shares were not active premarket but have fallen 47% in the last 12 months, while the S&P 500 SPX has fallen 20%.
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