Forrester Research Reports Exit/Disposal Costs
Ticker: FORR · Form: 8-K · Filed: Jan 10, 2025 · CIK: 1023313
Sentiment: neutral
Topics: restructuring, divestiture, costs
Related Tickers: FORR
TL;DR
FORR is booking exit costs - something's changing.
AI Summary
Forrester Research, Inc. filed an 8-K on January 10, 2025, reporting costs associated with exit or disposal activities as of January 9, 2025. The filing does not specify the exact dollar amount or nature of these costs, but it indicates a formal event related to restructuring or divestiture.
Why It Matters
This filing signals potential restructuring or divestiture activities within Forrester Research, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The filing indicates costs associated with exit or disposal activities, suggesting potential restructuring or divestiture which carries inherent business risks.
Key Players & Entities
- FORRESTER RESEARCH, INC. (company) — Registrant
- January 09, 2025 (date) — Date of earliest event reported
- January 10, 2025 (date) — Date of Report
- 60 Acorn Park Drive, Cambridge, Massachusetts 02140 (address) — Principal Executive Offices
FAQ
What specific activities are associated with the reported exit or disposal costs?
The filing does not specify the exact nature of the exit or disposal activities, only that costs are associated with them.
What is the total dollar amount of the costs associated with exit or disposal activities?
The filing does not disclose a specific dollar amount for these costs.
When did the event triggering these costs occur?
The earliest event reported is dated January 09, 2025.
What is the primary business of Forrester Research, Inc.?
Forrester Research, Inc. is in the Services-Engineering, Accounting, Research, Management industry, specifically classified under SIC code 8700.
Is this filing related to a specific item number under the 8-K form requirements?
Yes, the filing is related to Item Information: Cost Associated with Exit or Disposal Activities.
Filing Stats: 648 words · 3 min read · ~2 pages · Grade level 13 · Accepted 2025-01-10 08:08:48
Key Financial Figures
- $5.2 million — incur pre-tax expenses of approximately $5.2 million to $5.6 million in the fourth quarter o
- $5.6 million — penses of approximately $5.2 million to $5.6 million in the fourth quarter of 2024 and the f
Filing Documents
- forr-20250109.htm (8-K) — 38KB
- 0000950170-25-003818.txt ( ) — 145KB
- forr-20250109.xsd (EX-101.SCH) — 23KB
- forr-20250109_htm.xml (XML) — 4KB
05 Costs Associated with Exit or Disposal Activities
Item 2.05 Costs Associated with Exit or Disposal Activities. On January 9, 2025, the Company announced a reduction in its workforce of approximately 6% of its employees across various geographies and functions. Notification to affected persons commenced December 2, 2024 and is expected to be completed by January 31, 2025. The Company also plans to close one of its smaller offices in the United States. The Company expects to incur pre-tax expenses of approximately $5.2 million to $5.6 million in the fourth quarter of 2024 and the first half of 2025 related principally to cash severance and related benefit costs for terminated employees.
Forward Looking Statements
Forward Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding anticipated charges in connection with the reduction in force, the closing of one of the Company's offices, and the timing and process for completion of these actions. These statements are based on Forrester's current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, the possibility that: there are impediments to the Company's ability to execute the reduction in force as currently contemplated; the actual charges in implementing the reduction in force are higher than anticipated; and there are changes to the assumptions on which the estimated charges associated with the reduction in force are based. Forrester undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester's reports and filings with the Securities and Exchange Commission.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FORRESTER RESEARCH, INC. Date: January 10, 2025 By: /s/ L. Christian Finn L. Christian Finn, Chief Financial officer