10:55 AM EDT, 09/20/2024 (MT Newswires) -- Olo (OLO) said Friday it will reduce its workforce by about 9% to support its long-term growth objectives.

The company expects to incur about $2.2 million to $2.6 million in workforce reduction-related charges in Q3 of fiscal year 2024, according to a filing with the US Securities and Exchange Commission.

Olo also reiterated that its Q3 and fiscal year 2024 guidance ranges for revenue and non-GAAP operating income are in line with the outlook provided by the company in July.

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