Brief: Vinco Ventures Inc Executed Board-Approved Reduction-In-Force Plan To Reduce Operating Costs

Vinco Ventures

16/11/2022 14:34

Nov 16 (Reuters) - Vinco Ventures Inc  BBIG.O :
    * ON NOVEMBER 11, MANAGEMENT OF CO EXECUTED A BOARD-APPROVED
REDUCTION-IN-FORCE PLAN TO REDUCE OPERATING COSTS
    * UNDER THIS PLAN, CO REDUCED ITS WORKFORCE BY 39 EMPLOYEES
(APPROXIMATELY 65%)
    * COMPANY EXPECTS THAT THE WORKFORCE REDUCTION WILL DECREASE
ITS
ANNUAL OPERATING COSTS BY ABOUT $4.9 MILLION

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