Here’s the full text of a statement from EBSCO CEO, Tim Collins:
The impact of COVID-19 has been wide-reaching and continues to take its toll on our lives and the economy. With all that’s going on around us, we expect that EBSCO’s business will be impacted as well. As such, we have concluded that making difficult decisions now will allow us to prosper and provide opportunities for many people over the long run. While we have reduced non-employee expenses as much as possible, unfortunately we had to make position cuts as well, and those people impacted were informed on Wednesday. EBSCO has more than 3,000 employees worldwide and these cuts represent less than five percent of our workforce.
This was a hard day for EBSCO. We are proud of our ability to employ so many great local people and support local families. We will miss our colleagues, we are grateful for all that they contributed, and we will support them through their transition. We have tremendous appreciation for the work that the individuals have done for EBSCO and wish them the best in the future.