, the toy and collectibles company focused on selling items with connections to pop culture, is undergoing a significant restructuring.Friday that it will lay off between 180-200 employees, representing about 12-13 percent of its workforce.
Funko said it expected to incur charges of up to $2.8 million associated with the layoffs, but that it will result in $20 million to $22 million of annualized run rate cash savings. The company says it is choosing to slash its staffing level as “part of the Company’s initiatives to re-balance its cost structure into prioritized areas that the Company believes will drive long-term growth and improve margins.
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