CNET Canning 120 In Forced Reorg

CNET is firing 120 employees — 10% of its U.S. workforce, according to Reuters, or 4.4% of its worldwide workforce — in a “realignment to more appropriately allocate resources,” the company said, in a filing with the SEC. The company estimates the restructuring will cost $3.5 to $4 million in severance pay. CNET is under pressure from activist investor group JANA & Co., which is trying to elect 7 members to the board.

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