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BRIEF-Transgaming plans to reduce headcount by more than 50 pct

Published 2016-04-18, 09:34 a/m
© Reuters.  BRIEF-Transgaming plans to reduce headcount by more than 50 pct
FDI
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April 18 (Reuters) - Transgaming Inc TNG.V :
* Transgaming announces cost reduction measures
* Undertaking significant cost reduction measures in order
to preserve its cash resources as revenue growth has slowed in
recent months
* Beginning in may 2016, co plans to reduce operational and
administrative headcount by more than 50 pct and restructure its
overseas offices
* Evaluating opportunities to enhance shareholder value,
including sale of Gametree TV business to a third party
* Total annualized operating expense savings from cost
reduction measures of approximately $1.3 million
* Will not invest in deployment of new services in Connected
TV Space going forward
* Also considering strategic business transactions for
company

Source text for Eikon: ID:nMKWFNhwLa
Further company coverage: TNG.V

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