SeaChange Announces More Than $5 Million in Annualized Cost Reductions

Posted by Joe Zaller
Jan 31 2012

SeaChange announced that it has taken actions in the fourth quarter of fiscal year 2012 that it says will will result in more than $5m in annualized cost reductions.

These cost reductions come principally from headcount reductions related to streamlining operations and reducing the overall cost structure of the company. The Company will incur restructuring and severance charges in the fourth quarter reflecting these actions.

SeaChange CEO Raghu Rau commented, “As we realign our resources to focus on delivering on customer commitments, we have targeted operating cost reductions as well as some facility rationalization. It is important to note, however, that our commitment to research and development remains strong and we continue to invest heavily in innovative, next generation solutions that will provide significant competitive advantage to our customers.”

 

Related Content:

Press Release: SeaChange Announces More Than $5 Million in Annualized Cost Reductions

 

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