Brief: Carecloud, On Oct 2 Committed To Align Resources With Business Priorities And Improve Profitability Through A Reduction In Its Work Force

Carecloud

03/10/2023 13:56

Oct 3 (Reuters) - CareCloud Inc  CCLD.O :
    * CARECLOUD - ON OCT 2 COMMITTED TO EFFECTIVELY ALIGN
RESOURCES
WITH BUSINESS PRIORITIES AND IMPROVE PROFITABILITY THROUGH A
REDUCTION IN ITS WORK FORCE
    * CARECLOUD- AFTER REDUCTION EXPECTS IMPROVEMENT OF ABOUT
$10
MILLION IN ANNUALIZED FREE CASH FLOW, WHICH REPRESENTS ABOUT14%
OF TOTAL PAYROLL COST
    * CARECLOUD-ESTIMATES WILL INCUR EXPENSES OF ABOUT $0.5
MILLION
RELATED TO REDUCTION IN WORK FORCE, OF WHICH ABOUT $0.4 MILLION
EXPECTED TO BE INCURRED IN 2023
    * CARECLOUD INC - A MAJORITY OF IMPACTED EMPLOYEES WILL EXIT
IN Q4
OF 2023

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Further company coverage:  CCLD.O 

 ((Reuters.Briefs@thomsonreuters.com;))