OUTFRONT Media plans 120-job cut and $18.6 million in restructuring charges
OUTFRONT Media announced a restructuring and reduction in force plan that eliminates about 120 employees, or 6% of its workforce, with completion expected by the end of the second quarter of 2025. The company estimates $18.6 million in total charges, including about $16.4 million in future cash costs, and projects annualized cost savings of $18.0 million to $20.0 million.
- Plan cuts about 120 employees, or 6% of total workforce, expected to be completed by end of Q2 2025
- Estimated total restructuring charges of $18.6 million, recorded in Q2 2025
- About $16.4 million of charges are future cash expenditures, mostly over the next twelve months; $2.2 million is non-cash stock-based compensation
- Projected annualized cost savings of $18.0 million to $20.0 million, with 2025 savings already included in May 8, 2025 guidance