Forrester Research Inc. filed SEC Form 8-K: Costs Associated with Exit or Disposal Activities
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SECURITIES AND EXCHANGE COMMISSION
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Item 2.05 Costs Associated with Exit or Disposal Activities.
On January 9, 2025, the Company announced a reduction in its workforce of approximately 6% of its employees across various geographies and functions. Notification to affected persons commenced December 2, 2024 and is expected to be completed by January 31, 2025. The Company also plans to close one of its smaller offices in the United States. The Company expects to incur pre-tax expenses of approximately $5.2 million to $5.6 million in the fourth quarter of 2024 and the first half of 2025 related principally to cash severance and related benefit costs for terminated employees.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding anticipated charges in connection with the reduction in force, the closing of one of the Company’s offices, and the timing and process for completion of these actions. These statements are based on Forrester’s current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, the possibility that: there are impediments to the Company’s ability to execute the reduction in force as currently contemplated; the actual charges in implementing the reduction in force are higher than anticipated; and there are changes to the assumptions on which the estimated charges associated with the reduction in force are based. Forrester undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester’s reports and filings with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FORRESTER RESEARCH, INC. |
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Date: |
January 10, 2025 |
By: |
/s/ L. Christian Finn |
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L. Christian Finn, Chief Financial officer |