Item 2.05 Costs Associated with Exit or Disposal Activities.
On
The Company estimates that it will incur non-recurring charges of approximately
The Company expects to realize run-rate savings of approximately
The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan are subject to a number of assumptions, including local law and consultation requirements in various jurisdictions and the actual size of the workforce reduction, and actual amounts may differ materially from estimates. The Company may also incur charges and expenditures not currently contemplated due to unanticipated events that may occur in connection with the Plan.
Item 7.01 Regulation FD Disclosure.
On
Forward-Looking Statements
This current report contains forward-looking statements within the meaning of
the Safe Harbor provisions of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact could be deemed
forward-looking, including, but not limited to, statements regarding Wish's
outlook; priorities; strategic direction; reduction in force plan and its impact
on prioritizing efforts, aligning resources, and improving operational
efficiencies; implementation of the reduction in force plan and related costs;
business operations; and growth initiatives. In some cases, forward-looking
statements can be identified by terms such as "anticipates," "believes,"
"could," "estimates," "expects," "foresees," "forecasts," "guidance," "intends"
"goals," "may," "might," "outlook," "plans," "potential," "predicts,"
"projects," "seeks," "should," "targets," "will," "would" or similar expressions
and the negatives of those terms. These forward-looking statements are subject
to risks, uncertainties, and assumptions. If the risks materialize or
assumptions prove incorrect, actual results could differ materially from the
results implied by these forward-looking statements. New risks emerge from time
to time. It is not possible for our management to predict all risks, nor can we
assess the impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to differ materially
from those contained in any forward-looking statements we may make. Further
information on these and additional risks that could affect Wish's results is
included in its filings with the
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit Number Description 99.1 Message toContextLogic Inc. employees fromJun Yan onJanuary 31, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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