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Update: Trade Desk Shares Fall After Company Announces 15% Workforce Cut

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(Updates with the latest stock move in the headline and first paragraph.)

Trade Desk (TTD) shares fell 4.9% in Friday trading after the company announced plans to reduce its workforce by 15%, with most of the cuts expected to be completed during Q3.

The company expects to incur $39 million to $51 million in charges related to employee severance and benefit costs, partially offset by a reversal of $4 million to $5 million related to stock-based compensation, Trade Desk said in a regulatory filing.

The company said it may incur additional charges or cash expenditures not currently anticipated as it implements the plan.

Price: $14.35, Change: $-0.74, Percent Change: -4.94%

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