Freightos Limited (CRGO) Announces Cost Reduction
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Freightos Announces Plan for Operational Efficiency and Cost Reduction
July 11, 2023 6:00 AM EDTIn light of persisting global economic headwinds, Freightos announces an operational efficiency plan expected to allow the Company to continue growth and to reach break-even on existing funds.Growth plans heighten focus on Solution and Platform development for freight forwarders, airlines and enterprise importers/exporters.Cost-savings initiatives and efficiencies include approximately 13% headcount reduction.Company provides revised FY 2023 outlook. The operational efficiency plan is expected to reduce expenses and improve Adjusted EBITDA by about $5.6 million per... More
