Rent The Runway
plan on the company announced a plan to reduce costs streamline its organizational structure and drive operational details total reductions of approximately primarily a reduction in force with some open role closures reduced back reorganizing certain functions and reallocating resources charges for severance and related costs of million as well as loss on asset impairment of million related to discontinuing a warehouse operations project as part of the plan impact we continue to expect annual operating expense savings of million in relative to run rate related to reductions expected to be substantially completed by related to tech a expense expected to positively impact adjusted in by approximately million relative to run rate | Rent The Runway
Company
Deck Type
Sector
Industry
Deck date
December 2022
Slide
13 of 30
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Results
September 2022
plan on the company announced a plan to reduce costs streamline its organizational structure and drive operational details total reductions of approximately primarily a reduction in force with some open role closures reduced back reorganizing certain functions and reallocating resources estimated total cash charges for employee severance and related costs of approximately million recognized primarily in plan expected to be substantially completed by the end of the impact annual operating expense savings of million expected in relative to run rate related to reductions and related to tech a expense reduction is expected to be largely complete by expected to positively impact adjusted in by approximately million relative to run rate | Rent The Runway
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