(RTTNews) - Gemini Space Station, Inc. (GEMI), Thursday issued a communication discussing a plan to exit and wind down its operations in the United Kingdom, the European Union and other European jurisdictions, and Australia to reduce operating expenses and boost profitability.
If it comes into action, the plan would result in a reduction in force of up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximately 25% of the company's total global workforce as of February 4, 2026.
Additionally, the company expects the plan, estimated to be completed in the first half of 2026, to incur pre-tax restructuring and related charges of approximately $11 million.
Currently, GEMI is trading at $6.86, down 6.47 percent on the Nasdaq.
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