Smith Micro (SMSI) Approves Restructuring Plan to Bring Expenses Inline with Sales; to Cut Headcount by 20%
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In a Form 8-K, Smith Micro Software (Nasdaq: SMSI) announced it has approved a plan of restructuring intended to bring the company's expenses better in line with sales. The plan involves a realignment of organizational structures, facility consolidations and headcount reductions to the tune of 20 percent.
The plan will be implemented during the fourth quarter of this year.
The company expects the plan to result in special charges totaling about $2-$2.5 million during the fourth of quarter.
The plan will be implemented during the fourth quarter of this year.
The company expects the plan to result in special charges totaling about $2-$2.5 million during the fourth of quarter.
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