Item 2.05 Costs Associated with Exit or Disposal Activities
On January 11, 2023, the Company announced a reduction in its workforce of
approximately 4% of its employees across various geographies and functions.
Notification to affected persons commenced January 3, 2023 and is expected to be
completed by January 27, 2023. The Company expects to incur pre-tax expenses of
$4.6 million to $5.1 million in the fourth quarter of 2022 and first quarter of
2023 related principally to cash severance and related benefit costs for
terminated employees.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include, but are not limited to, statements regarding anticipated
charges in connection with the reduction in force, and the timing and process
for completion of the reduction in force. These statements are based on
Forrester's current plans and expectations and involve risks and uncertainties
that could cause actual future activities and results of operations to be
materially different from those set forth in the forward-looking statements.
Important factors that could cause actual future activities and results to
differ include, among others, the possibility that: there are impediments to the
Company's ability to execute the reduction in force as currently contemplated;
the actual charges in implementing the reduction in force are higher than
anticipated; and there are changes to the assumptions on which the estimated
charges associated with the reduction in force are based. Forrester undertakes
no obligation to update publicly any forward-looking statements, whether as a
result of new information, future events, or otherwise. For further information,
please refer to Forrester's reports and filings with the Securities and Exchange
Commission.
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