Kelly Services Implements Workforce Reduction Plan

(RTTNews) - Kelly Services Inc. (KELYB) said it has implemented a workforce reduction plan, as a result of the strategic restructuring actions. Employees whose roles were included in the workforce reduction are eligible for applicable severance, benefits, and outplacement services.

As a result of the strategic restructuring actions, Kelly expects to see meaningful expansion of its EBITDA margin beginning immediately with substantial improvement in the second half of 2023 and beyond.

The company expects to incur a restructuring charge from the actions in the range of $7.5 million - $8.5 million in the third quarter of 2023.