GlobalSCAPE Announces Reduction in Force as Part of Continued Cost Realignment
07 Agosto 2018 - 5:15PM
Business Wire
GlobalSCAPE, Inc. (NYSE American: GSB) today announced
a reduction in force that is expected to generate significant
pre-tax savings.
The Company has been executing a strategy to streamline its
organization around its flagship offering – Enhanced File Transfer™
(EFT™). These changes apply globally, although the changes are
mainly focused in North America. Part of this strategy is to enable
GlobalSCAPE to better focus on its customers running EFT while
remaining agile enough to adjust to market demands.
“GlobalSCAPE is making good progress with its transformation.
This reduction in force, while difficult, is an essential part of
making the organization a stronger technological partner for our
customers, a better investment for our shareholders, and a work
environment rich with opportunity for our employees,” said Matt
Goulet, president and chief executive officer. “We are realigning
our sales team to better service our customers and finding more
efficient operational processes.”
The reduction will impact approximately 40 employees. Customary
transition assistance will be provided to affected employees.
Due to the reduction in force, the Company expects to incur
total restructuring charges in the third quarter 2018 of
approximately $400,000 on a pre-tax basis.
About GlobalSCAPE
GlobalSCAPE, Inc. (NYSE American: GSB) is a pioneer in securing
and automating the movement and integration of data seamlessly in,
around and outside your business, between people and places, in and
out of the cloud. GlobalSCAPE provides technology that automates
your work and secures your data, while giving visibility to those
who need it. GlobalSCAPE makes business flow brilliantly. For more
information, visit http://www.globalscape.com or follow the blog
and Twitter updates.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The words
“would,” “exceed,” “should,” “anticipates,” “believe,” “expect,”
and variations of such words and similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not a forward-looking statement. These forward-looking
statements are based upon the Company’s current expectations and
are subject to a number of risks, uncertainties and assumptions.
The Company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. Among the important factors that could cause actual
results to differ significantly from those expressed or implied by
such forward-looking statements are risks that are detailed in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2017 filed with the SEC on June 14, 2018; the discovery of
additional information relevant to the internal investigation; the
conclusions of the Company’s Audit Committee (and the timing of the
conclusions) concerning matters relating to the internal
investigation; the possibility that additional errors relevant to
the recently completed restatement may be identified; pending
litigation and other proceedings and the possibility of further
legal proceedings adverse to GlobalSCAPE resulting from the
restatement or related matters; and the costs associated with the
restatement and the investigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20180807005656/en/
GlobalSCAPE Press ContactLisa Kilpatrick,
210-308-8267PR@GlobalSCAPE.comorGlobalSCAPE Investor Relations
ContactMatt Glover or Najim Mostamand, CFA,
949-574-3860IR@GlobalSCAPE.com
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