Sign In  |  Register  |  About Los Altos  |  Contact Us

Los Altos, CA
September 01, 2020 1:26pm
7-Day Forecast | Traffic
  • Search Hotels in Los Altos

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

TransUnion to cut 1,300 jobs as part of multiyear plan to reduce costs, drive growth

The company expects to deliver $120 to $140 million of annualized operating expense savings and a $70 to $80 million capital expenditure reduction in 2026 relative to 2023 levels.

TransUnion said it will cut its workforce by 10%, or roughly 1,300 jobs, as part of a plan to reduce costs and fund growth, the consumer credit reporting agency announced Wednesday. 

The company expects to deliver $120 to $140 million of annualized operating expense savings and a $70 to $80 million capital expenditure reduction in 2026 relative to 2023 levels.

About half of the operating expense savings are expected to be realized in 2024, TransUnion said.

AMAZON CUTS JOBS IN MUSIC STREAMING DIVISION

The staff reduction is part of a multiyear transformation plan to optimize the company’s operating model and advance its technology. TransUnion said it will leverage Neustar’s cloud-native technology to create its next-generation integrated data management, identity resolution, analytics and delivery platform. 

"While these changes involve difficult decisions, they strengthen TransUnion and create an opportunity to extract more value from our recent acquisitions," TransUnion CEO Chris Cartwright said in a statement.

NOKIA TO CUT UP TO 14K JOBS AMID 'MARKET UNCERTAINTY'

TransUnion said it also expects to incur around $355 million to $375 million of one-time pre-tax expenses, with the majority taken on by the end of next year. Those numbers include approximately $155 million in employee separation and facility exit costs.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 LosAltos.com & California Media Partners, LLC. All rights reserved.