LiveOne to cut additional 25% of staff by year-end

LiveOne announced that as part of its focus on profitability and generating cash from operations on a consolidated basis, LiveOne is implementing additional cost and expense reductions from both operations and corporate overhead, which is anticipated to increase the previously implemented annual cost savings to a total of over $40M. LiveOne’s CEO and Chairman, Robert Ellin, commented, “Over the past two years, we have successfully reduced costs and overhead by an expected $30M on an annual basis while focusing on the operating performance of our Audio Division. These measures will allow us to continue to strengthen our balance sheet, buyback stock and focus on the growth of our profitable businesses.”