Sept 22 (Reuters) - Iou Financial Inc:
* Iou Financial announces restructuring to accelerate path to profitable growth
* In connection with plan, Iou has eliminated its chief technology officer position
* Says plan includes a reduction in company's operating expenses as well as a workforce restructuring
* Iou Financial announces restructuring
* Restructuring plan that will begin in September 2016
* Cost reduction actions once implemented are expected to lower operating costs by about 15% to 20% to $2.0 to $2.2 million for Q4 2016 Source text for Eikon: Further company coverage: IOU.V