this post was submitted on 28 Feb 2024
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[–] Ghostalmedia@lemmy.world 13 points 9 months ago (8 children)

"These charges consist of approximately $50 million to $65 million associated with office space reductions, approximately $40 million to $55 million related to employee severance and employee-related costs, and $35 million to $45 million in costs associated with licensor commitments," reads the filing.

The severance I get, but why is closing offices costing them so much. And what are “ licensor commitments?”

[–] peter 14 points 9 months ago (1 children)

Maybe getting out of fixed leases?

[–] Ghostalmedia@lemmy.world 3 points 9 months ago

Yeah, that would make sense. Commercial leases can be up to a decade long.

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