tiprankstipranks
Peraso announces cost reduction actions, including lowering headcount
The Fly

Peraso announces cost reduction actions, including lowering headcount

Peraso has implemented cost reduction initiatives to reduce its operating losses and streamline its operations, as the Company further emphasizes shorter-term market opportunities. Peraso expects to decrease its operating expenses by approximately $5M on an annualized basis, primarily from lower headcount, including a reduction of employees and full-time-equivalent consulting positions, as well as targeted reductions in certain longer-term research and development projects. "Over the last few years, Peraso has made significant investment to position itself as an industry leader with fully-integrated solutions across the mmWave spectrum," said Ron Glibbery, CEO of Peraso. "In the current economic environment, we are taking the necessary steps to conserve cash, optimize our allocation of resources and prioritize objectives that we believe will contribute to shortening the time to profitability. In addition to the headcount reductions, we are also deemphasizing development projects that have longer anticipated paths to achieving ROI as well as eliminating other non-essential operating expenses."

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on PRSO:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles