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The e-commerce company says the move represents about 10 per cent of its head count-related operating expenditures, with half of the cost reduction coming from management.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
It estimates the cuts will result in a restructuring cash charge of US$12 million to US$14 million, primarily consisting of severance payments, employee benefits and related costs, primarily in its fourth quarter.It says it expects its third-quarter revenue will be within its guidance range, while its adjusted earnings before interest, taxes, depreciation and amortization are expected to come in ahead of its outlook.
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