Brief: BM Technologies Announces Employee Workforce Reduction Of About 25%

Bm Technologies

30/01/2023 14:36

Jan 30 (Reuters) - Bm Technologies Inc  BMTX.A :
    * BM TECHNOLOGIES INC - ON JANUARY 26, CO ANNOUNCED EMPLOYEE
WORKFORCE REDUCTION OF ABOUT 25% AS COMPARED TO ITS HEADCOUNT AT
DECEMBER 31, 2022
    * BM TECHNOLOGIES INC SAYS ANNOUNCES LAUNCH OF TARGETED PLAN
TO
IMPROVE PERFORMANCE WITH APPROXIMATELY $15 MILLION OF EXPECTED
2023 COST SAVINGS
    * BM TECHNOLOGIES INC - ESTIMATES THAT IT WILL INCUR $1.5
MILLION
TO $3.0 MILLION IN CHARGES IN CONNECTION WITH PLAN
    * BM TECHNOLOGIES INC - EXPECTS CHARGES TO BE INCURRED IN Q1
OF
2023
    * BM TECHNOLOGIES INC SAYS ESTIMATES TO INCUR ABOUT $1.5
MILLION
TO $3.0 MILLION IN CHARGES SUBSTANTIALLY ALL OF WHICH TO BE
INCURRED IN Q1 OF 2023
    * BM TECHNOLOGIES INC - EXPECTS ACTIONS NECESSARY TO ATTAIN
COST
REDUCTIONS WILL BE SUBSTANTIALLY COMPLETED BY JUNE 30, 2023
    * BM TECHNOLOGIES INC - EFFECTIVE JAN 26, CO TRANSITIONED
ROBERT
RAMSEY, COMPANY'S CFO, FROM THAT POSITION TO A NEW CORPORATE
DEVELOPMENT ROLE
    * BM TECHNOLOGIES INC - CONCURRENT WITH TRANSITION OF
RAMSEY, CO
ELECTED JAMES DULLINGER, CO'S CHIEF ACCOUNTING OFFICER, TO
ADDITIONAL POSITION OF CFO

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