News: LME Limeade Announces Company Restructure That Will Lower Its Headcount Overall By 15%

Jan 12 (Reuters) - Limeade Inc (LME) :

• TODD SPARTZ WILL RESIGN AS CHIEF FINANCIAL OFFICER
• ANNOUNCES A COMPANY RESTRUCTURE THAT WILL LOWER ITS HEADCOUNT OVERALL BY 15%
• RESTRUCTURE ITS RESEARCH AND DEVELOPMENT, PRODUCT, CUSTOMER OPERATIONS, CUSTOMER SUCCESS, MARKETING AND SALES TEAMS
• COSTS ANTICIPATED TO BE ABOUT US$1.3 MILLION & ANNUALIZED SAVINGS ANTICIPATED TO BE ABOUT US$7.0 MILLION
• ONE-TIME COSTS ASSOCIATED WITH REDUCTION IN FORCE INCLUDE SEVERANCE PAYMENTS, AMONG OTHERS
• IN INTERIM, CFO DUTIES WILL BE PERFORMED BY EXISTING LIMEADE FINANCE TEAM UNDER LEADERSHIP OF CONTROLLER PAUL CRICK