Bragg has announced it will reduce its global headcount by 19%, marking the second major cut this year after 12% of roles were removed in January.
Bragg said it expected the staff reduction to lead to annualised cash savings of around €6m once fully implemented.
The company said the changes would cost approximately €600,000 linked to terminations. The costs will be incurred in H2 2026, Bragg noted.
The redundancies come after 12% of staff were let go in January. At the time, Bragg said that process would lead to annual cost savings of €4.5m.
The two rounds are set to save €10.5m per year in total.
The news comes as Bragg continues to push ahead with an AI-first strategy, including building out the “Bragg AI Brain”.
Bosses intend to be an “AI-first company by 2027”, meaning more than 75% of operational workflows are or will be impacted by the tech.
The cuts to the supplier’s workforce arrive two months after the firm snapped up Drayton International and its stable of studios in an all-stock deal worth $9m.
As part of that deal, Tekkorp Capital boss Matt Davey was named as Bragg’s non-executive chair.
CEO Matevž Mazij is set to resign from the board after a shareholder vote on his reappointment failed to hit a majority.
On the restructure, Mazij said: “We believe the steps we took at the start of the year were the right ones for the business, and today we are going further.
“These measures are designed to deliver focus, discipline, execution and cash generation. By combining a more focused organisation with the acceleration of our AI-first transformation, we are structurally improving our costs while continuing to protect the technology, content and people that drive our competitive advantage.
“The measures announced today build directly on the restructuring we announced in January and move us decisively toward sustained cash generation – leaving Bragg leaner, sharper and well-positioned for growth and the market consolidation opportunities we see ahead as the industry further regulates.
“I want to sincerely thank the colleagues who are leaving Bragg for their dedication and contribution,” he added.
Arnold Ash is EGR’s executive recruitment partner. It supports ambitious organisations to identify and attract industry leading executive talent. Find out more here.
The post Bragg set to cut 19% of workforce in new round of redundancies first appeared on EGR Intel.
Supplier says restructure will deliver annualised cost savings of €6m and comes soon after 12% cut to headcount in January
The post Bragg set to cut 19% of workforce in new round of redundancies first appeared on EGR Intel.