Presto implements reduction in force of full-time employee base by 17%

Presto will take further steps in its ongoing efforts to reduce costs, improve profitability, and streamline operations by implementing a reduction in force of its global full-time employee base by approximately 17%. The Company estimates that this initiative, along with other cost-saving initiatives, will reduce monthly expenditures by approximately $0.4 million, rising to approximately $1.2 million after approximately eight months.