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Cost Cuts Coming to SeaChange - Broadcasting & Cable

Cost Cuts Coming to SeaChange

Headcount reduction to be part of cost-savings plan as multiscreen video software company pursues return to profitability
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A reduction in headcount will be part of a cost-reduction plan underway at video software specialist SeaChange International, the company confirmed Thursday during its fiscal Q2 earnings call.

Once fully implemented, the new cost structure "will reduce our annual non-GAAP operating EPS breakeven point to the range of $90 million to $95 million in revenue," new company CEO Ed Terino said on the call.

Those cost-saving measures are “still not defined,” CFO Peter Faubert said, but he acknowledged that it will be a “combination of headcount reduction and other expenses across the board. It's also a worldwide process.”

He said SeaChange is working through that process now and hopes to get the plan finalized by mid-September.

For the full story go to Multichannel.com.

(Photo via Ervins Strauhmanis's FlickrImage taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)

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