ComScore Outlines Plan to Cut 10% of Jobs, Says COO Stepped Down
(Bloomberg) -- ComScore Inc., which has delayed its regular financial filings because of accounting irregularities, plans to eliminate 175 jobs and said Chief Operating Officer Cameron Meierhoefer has stepped down.
The job cuts, amounting to 10 percent of the workforce, will result in costs of $10 million to $12 million, primarily because of severance expenses, the Reston, Virginia-based company, which publishes data such as box-office results and website traffic figures, said Wednesday in a regulatory filing.
ComScore agreed to add four new independent directors to its board in September, settling a dispute with activist investor Starboard Value LP. The company hasn't held an annual meeting since 2015 amid an accounting probe and restatement of past results. Co-founder and Chief Executive Officer Gian Fulgoni stepped down on Nov. 30, accelerating a planned retirement.
The job cuts stem from management's decision to quit some geographic markets and reduce costs. The majority of the employees affected will leave this year, and the rest are expected to exit by the end of March.
Meierhoefer had been chief operating officer since March 2012. He will remain a special adviser at his current pay until March.
To contact the reporter on this story: Rob Golum in Los Angeles at rgolum@bloomberg.net.
To contact the editor responsible for this story: Crayton Harrison at tharrison5@bloomberg.net.
©2017 Bloomberg L.P.
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
-
Wrong Labels, High Pesticide Residues Holding Back Agri Exports | The Reason Why
India needs stronger domestic food-safety and labelling standards, with best practices becoming part of everyday business for farmers, traders and food companies.
