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Zedge Increases Cost Reduction Efforts to a Targeted $4 Million Annually

1. Zedge is implementing restructuring to save $3.9 to $4.1 million annually. 2. The restructuring includes a 22% workforce reduction and closing Norway operations.

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FAQ

Why Bullish?

Cost-cutting measures typically enhance profitability, potentially boosting investor confidence, as seen in similar cases.

How important is it?

The article highlights significant cost-saving measures, directly impacting financial performance and investor sentiment.

Why Short Term?

Immediate cost savings suggest a quick improvement in financials, though long-term success depends on execution.

Related Companies

ZDGEM
Estimated total global restructuring and other cost reductions to save $3.9 to $4.1 million annually relative to Q1 FY25 run rate - FY24 free cash flow* was $4.7 million Total global restructuring efforts to date include a 22% workforce reduction with expected annualized compensation-related cost savings of approximately $2.6 million (pre-tax); additional $0.1 to $0.3 million in annualized non-employee cost reductions being targeted Other annual cost reductions of $1.2 million stem from the completion of scheduled payments of GuruShots acquisition-related retention bonuses NEW YORK, NY / ACCESS Newswire / February 5, 2025 / Zedge, Inc. (NYSE AMERICAN:ZDGE), $ZDGE, a leader in digital marketplaces and interactive games that foster creativity, self-expression and community engagement, today announced additional restructuring initiatives, mainly the closure of its Norway operations. Combined with the previously announced headcount and compensation expense reductions at GuruShots and other initiatives, these actions mark a key milestone in the Company's strategy to streamline operations and enhance profitability while positioning for growth and revamped focus.

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