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BlackLine to cut jobs by 5% globally - SEC filing

  • BlackLine (NASDAQ:BL) disclosed in a filing Wednesday that it is planning to reduce its global workforce by about 5%, or approximately 95 total positions.

  • Shares +5.8%.

  • The company said the job cuts were in response to its cost reduction initiatives, and are expected to be completed in the fourth quarter.

  • BlackLine said it does not expect costs associated with the reductions to be "material".