Agora will cut its workforce by 250 employees, including journalists and headquarter staff, until the end of the year, according to today’s ‘Dziennik’. The staff cuts would amount to roughly 7% of Agora workforce.
Our view: The news on the workforce cuts in Agora have appeared before, therefore we do not expect any major price impact today. We expect the company to give a new guidance on its earnings prospects on an analyst meeting scheduled for September 27th. We reiterate our Hold rating for Agora.