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".