Brief: Redbubble Implements More Cost-Reduction Measures To Accelerate Return To Cash Flow Positive

Articore

10/05/2023 01:15

May 10 (Reuters) - Redbubble Ltd  RBL.AX :
    * IMPLEMENTING FURTHER COST-REDUCTION MEASURES TO ACCELERATE
RETURN TO CASH FLOW POSITIVE
    * AIMING TO REDUCE ITS OPERATING EXPENDITURE BY A FURTHER
A$13
MILLION TO A$15 MILLION ON AN ANNUALIZED BASIS
    * DECISION TO REMOVE A NUMBER OF ROLES FROM GROUP
    * MAJORITY OF COST SAVINGS WILL BE ACHIEVED BY REDUCING
GROUP'S
WORKFORCE BY APPROXIMATELY 23% OR 75 ROLES
    * FINANCIAL BENEFIT OF COST-REDUCTION ANNOUNCED TODAY IS
EXPECTED
TO BE REALIZED FROM BEGINNING OF FY24

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