Brief: Kopin Announces Restructuring With Partial Spinout Of OLED Development Unit

Kopin

05/01/2023 14:37

Jan 5 (Reuters) - Kopin Corp  KOPN.O :
    * KOPIN ANNOUNCES RESTRUCTURING WITH PARTIAL SPINOUT OF OLED
DEVELOPMENT UNIT AND REDUCTION IN FORCE
    * KOPIN CORP - KOPIN FURTHER ANNOUNCES REDUCTION IN FORCE
DUE TO
INCREASED EFFICIENCIES AND PROFITABILITY PLAN
    * KOPIN CORP - IN ADDITION TO EMPLOYEES MOVING TO LIGHTNING
SILICON, ALSO REDUCED HEADCOUNT IN OUR OTHER PRODUCT LINES
    * KOPIN CORP - ENTERED IN A TECHNOLOGY LICENSE AGREEMENT
WITH
LIGHTNING SILICON TECHNOLOGY
    * KOPIN CORP - DUE TO TRANSACTIONS, ANNUALIZED PAYROLL
EXPENSE,
EXCLUDING SEVERANCE, SIMILAR BENEFITS, EXPECTED TO DECREASE BY
ABOUT 25% SINCE DEC 31, 2022

Source text for Eikon:  ID:nBw7m7m8ra 
Further company coverage:  KOPN.O 
 ((Reuters.Briefs@thomsonreuters.com;))