Brief: Iou Financial eliminates chief technology officer position
22/09/2016 22:14
Sept 22 (Reuters) - Iou Financial Inc:
* Iou Financial announces restructuring to accelerate path
to profitable growth
* In connection with plan, Iou has eliminated its chief
technology officer position
* Says plan includes a reduction in company's operating
expenses as well as a workforce restructuring
* Iou Financial announces restructuring
* Restructuring plan that will begin in September 2016
* Cost reduction actions once implemented are expected to
lower operating costs by about 15% to 20% to $2.0 to $2.2
million for Q4 2016
Source text for Eikon: urn:newsml:reuters.com:*:nCNWPp44va
Further company coverage: IOU.V
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