CalAmp to cut 8% of its workforce in restructuring

CalAmp Corp.
CAMP,
+0.67%,
a software and subscription services company, said Friday it is planning to reduce its work force by 8% as part of a restructuring. The Irvine, California-based company had 887 employees as of Feb. 28, 2022, according to its annual 10-K filing with the Securities and Exchange Commission. The cuts will happen across various function, it said in a statement. The stock has fallen 16% in the last 12 months, while the S&P 500
SPX,
+0.25%
has fallen 6%.