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.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

cnet sai-us