MoSys Announces Revised Operating Plan
MoSys, Inc. (MOSY)
US:NASDAQ Investor Relations:
mosys.com/support/contact-us/investor-relations
Company Research
Source: GlobeNewswire
SANTA CLARA, Calif., April 12, 2017 (GLOBE NEWSWIRE) -- MoSys, Inc. (NASDAQ:MOSY) today announced a revision of its operating plan to concentrate resources on the production and sale of its existing products, while significantly limiting new product development and research and development activities. Under the plan, the Company will implement a reduction in workforce of up to 35 positions, or approximately 60% of total headcount. This headcount reduction will be substantially completed in the second quarter of 2017 and take place across all geographic locations. This reduction is intended to lower operating expenses, realign resources and conserve cash. Additionally, the Company announced that, in the second half of 2016, its board of directors engaged an investment bank to act as its strategic financial advisor, and initiated a process to explore and review a range of strategic alternatives focused on maximizing stockholder value. During this process, the Company’s management and
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