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Trade Desk Plans 15% Staff Reduction

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Trade Desk (TTD) is planning to reduce its total workforce by about 15%, with most of the cuts expected to be completed during Q3, the company said in a regulatory statement Friday.

The company said it expects to incur about $39 million to $59 million related to employee severance and benefits costs. These charges will be partially offset by a reversal of about $4 million to $5 million related to stock-based compensation.

Shares of the company added more than 2% in recent premarket activity Friday.

Price: $15.45, Change: $+0.39, Percent Change: +2.55%

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