Brief: Transgaming plans to reduce headcount by more than 50 pct

Findev

18/04/2016 14:00

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  
 
 ((Bengaluru Newsroom +1 646 223 8780;))