Wrap Technologies, Inc. Positions for Scale with Manufacturing and Sales Expansion while Reducing Workforce by 30% [Yahoo! Finance]
Wrap Technologies, Inc. (WRAP)
NASDAQ:AMEX Investor Relations:
wrapmail.com/aboutus.html
Company Research
Source: Yahoo! Finance
innovative public safety solutions platform powered by artificial intelligence (“AI”), virtual reality and data, today announces an initiative to position the company for growth in 2024 and beyond. The Company has reduced its labor force by 30%, representing $2.4M in annual savings, in the past 45 days through outsourcing and headcount reductions. To position for the future, the Company is expanding manufacturing capacity in its Tempe facility and building out a robust enterprise-level sales and marketing team. These measures should enable Wrap to meet the increasing global demand for its solutions while driving shareholder value. Cost Reduction Initiatives: Wrap is implementing various cost-saving measures to optimize the corporate structure while investing in near and long-term revenue opportunities. These measures include digitization initiatives, headcount reductions and strategic outsourcing. These steps have enabled Wrap to achieve material cost savings while redirecting i
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WRAP
News
- Wrap Technologies Announces Exciting New Distributor Agreement with Kokusai SecurityGlobeNewswire
- Wrap Technologies Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)GlobeNewswire
- Wrap Technologies, Inc. Provides Update on Operations and Timing to Report Financial Results [Yahoo! Finance]Yahoo! Finance
- Wrap Technologies, Inc. Provides Update on Operations and Timing to Report Financial ResultsGlobeNewswire
- Wrap Technologies Launches “WrapAI™” Suite of Artificial Intelligence-Powered Functionality for Intrensic BWC and DEMS [Yahoo! Finance]Yahoo! Finance
WRAP
Sec Filings
- 5/3/24 - Form SC
- 4/26/24 - Form 8-K
- 4/19/24 - Form 8-K
- WRAP's page on the SEC website