Local News

Concurrent Lays Off 7% Of Workforce In Cost-Cutting Move

Posted Updated

ATLANTA, GA. — Concurrent

(Nasdaq: CCUR), a provider of on-demand and real-time computing technology for such services as on-demand video, is cutting its workforce of 400 people by 7 percent.

The company announced the layoffs on Monday after forecasting a loss of 5 to 7 cents per share for the fourth quarter of its fiscal year that ended June 30.

"Despite the disappointing results for this quarter, we remain optimistic about our business long term," said Gary Trimm, Concurrent's president and chief executive officer, in a statement. "The fundamentals for the on-demand market and our position in that market are strong."

Copyright 2023 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.