LiveRamp Holdings, Inc. (NYSE:RAMP) shares are trading slightly higher in premarket on Friday.

The company has announced a workforce restructuring, which will affect approximately 65 full-time employees or 5% of its full-time workforce.

This move is part of a broader strategic effort aimed at refining the company's focus and enhancing operational efficiency.

Through this restructuring, the company aims to strengthen and increase profitability. The expected impact includes a $6.5 million restructuring charge, which will primarily cover employee severance and benefits costs.

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The company plans to incur most of these charges in the fourth quarter of the fiscal year ending March 31, 2025. If there are any significant changes or additional costs arising from this restructuring, the company will amend its filings to reflect those updates.

The restructuring will have a direct impact on LiveRamp's GAAP operating income guidance for the fourth quarter and fiscal year. The company now expects a GAAP operating loss of $13 million for the fourth quarter (prior view $8 million loss), with the full year's operating income expected to be $5 million (prior view $10 million).

This adjustment is mainly due to the $6.5 million restructuring charge, partially offset by a $1.5 million reduction in stock-based compensation expenses.

Despite these adjustments, LiveRamp has reaffirmed its revenue and non-GAAP operating income outlook for both the fourth quarter and fiscal year ending March 31, 2025.

Price Action: RAMP shares are trading higher by 0.84% at $28.65 in premarket at last check Friday.

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This article SaaS Company LiveRamp Lays Off 5% Of Full-Time Workforce Amid Strategic Restructuring originally appeared on Benzinga.com

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