YuMe Board OKs Expanded Restructuring Plan With 7% Workforce Reduction

YuMe Inc. shares were up Friday after the company said its board approved an expansion to a restructuring plan that includes a 7% reduction to its global workforce.

The provider of video advertising products said it expects to implement the expanded restructuring through Q1, which should result in Q4 cost savings of $1.9 million, inclusive of $1.3 million of savings previously announced on Nov. 9.

As a result of the expanded restructuring plan and other cost savings initiatives, YuMe said its Q4 operating expenses should be reduced by $2.6 million compared to Q3.