In today's earning's announcement:
3Q 2022: Significant deterioration of
issuance markets and weaker outlook;
implementation of ‘Workplace of the
Future’ recommendations
– Mgmt. Action: Expanded and
accelerated Restructuring Plan to
further streamline real estate
footprint together with a larger
workforce reduction
– Additional cost actions identified to
ensure ongoing financial flexibility
Some lowlights...
"...sees 2022 revenue declining in the low-double-digit percent range compared with a decline in the high-single-digit percent range in the prior guidance."
"We are accelerating the Geolocation Restructuring Program announced last quarter and expanding it to include additional savings."
"Revenue for Moody's Investors Services ("MIS") was $590M in Q3, down from $925M in Q3 of last year."
https://seekingalpha.com/news/3894724-moodys-stock-dips-on-grim-year-outlook-after-q3-earnings-miss