: TransUnion to shed about 1,300 employees in cost-reduction plan, as stock rises

TransUnion TRU said Wednesday it plans to reduce its 13,000-employee work force by 10% or, about 1,300, as part of a cost-cutting plan at the information and risk management solution company. TransUnion’s stock was up 3.5% in premarket trading. “We believe these investments will help optimize our global operating model and enhance our market-leading technology to reduce costs, accelerate innovation and drive growth,” said Chief Executive Chris Cartwright, in a statement. The Chicago-based company said it expects to deliver $120 million to $140 million of annualized operating expense savings and a $70 to $80 million capital expenditure reduction in 2026, relative to 2023 levels. TransUnion expects to realize in 2024 half of the operating expense savings, which exclude depreciation and amortization. TransUnion will take $355 million to $375 million of one-time pre-tax expenses, mostly by the end of 2024. Those costs include about $155 million of employee separation and facility exit costs.

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