Brief: Limeade Announces Company Restructure That Will Lower Its Headcount Overall By 15%

Limeade

11/01/2023 23:55

Jan 12 (Reuters) - Limeade Inc  LME.AX :
    * TODD SPARTZ WILL RESIGN AS CHIEF FINANCIAL OFFICER
    * ANNOUNCES A COMPANY RESTRUCTURE THAT WILL LOWER ITS
HEADCOUNT
OVERALL BY 15%
    * RESTRUCTURE ITS RESEARCH AND DEVELOPMENT, PRODUCT,
CUSTOMER
OPERATIONS, CUSTOMER SUCCESS, MARKETING AND SALES TEAMS
    * COSTS ANTICIPATED TO BE ABOUT US$1.3 MILLION & ANNUALIZED
SAVINGS ANTICIPATED TO BE ABOUT US$7.0 MILLION
    * ONE-TIME COSTS ASSOCIATED WITH REDUCTION IN FORCE INCLUDE
SEVERANCE PAYMENTS, AMONG OTHERS
    * IN INTERIM, CFO DUTIES WILL BE PERFORMED BY EXISTING
LIMEADE
FINANCE TEAM UNDER LEADERSHIP OF CONTROLLER PAUL CRICK

Source text for Eikon:  ID:nASX4fGh1P 
Further company coverage:  LME.AX 
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