By Adriano Marchese
BlackLine said it intends to cut its workforce by 7%.
The enterprise software company said Tuesday that it will lay off about 130 employees and implement a voluntary departure program which allows for employees to resign of their own volition and receive a severance package.
Any voluntary resignations would be in addition to the 130 roles it is eliminating.
BlackLine said that the move is part of an organizational alignment and a broader focus on its key strategic priorities.
The layoffs are expected to cost about $5 million in severance and termination benefits and be substantially completed by the second quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 04, 2025 06:34 ET (11:34 GMT)
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