Brief: FalconStor Software says board approved comprehensive plan to increase operating performance

FalconStor Software

20/06/2017 13:41

June 20 (Reuters) - Falconstor Software Inc  FALC.O  
    * Falconstor software inc - june 2017, board approved 
comprehensive plan to increase operating performance - sec 
filing 
    * Falconstor software - expects plan when combined with 
previous workforce reductions in q2 of fiscal 2017 will have 
reduced co's workforce to about 90 employees 
    * Falconstor software - realignment, reduction in workforce 
are anticipated to result in annualized cost savings of 
approximately $10.0 million 
    * Falconstor software inc - in connection with plan, company 
expects to incur total estimated charges of up to $800,000, 
consisting primarily of severance 
 
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