Brief: Parkervision cuts jobs

ParkerVision

11/06/2015 21:33

June 11 (Reuters) - ParkerVision Inc  PRKR.O : 
 * Says on June 8, 2015, the company implemented a reduction in its staff in 
   order to reduce the company's ongoing operating expenses 
 * Estimates charge to operating results in Q2 2015 of approximately $325,000 in 
   connection with accrued severance costs 
 * Says accrued severance costs are expected to result in a cash impact of 
   approximately $250,000 in the second quarter of 2015 
 * Says company has reduced its workforce in both its Jacksonville and Orlando 
   locations 
 * Says reduction in force is expected to narrow the company's new product 
   development efforts to customer funded projects 
 * Reduction in workforce expected to result in estimated 25% reduction in cash 
   used for operating activities, going forwar 
 
 * Source text for Eikon  ID:nEOL3yPrSW  
 
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