10% opex reduction is fairly material. Clearly they’re both trying to stem the bleeding and they’ve listened to investor feedback. By taking it out from customer facing roles they’re trying to guide that they’re cutting fat and not muscle - or in other words it won’t have an impact on growth.
Further mention of interest and the data room being open to interested parties. Imo there have been some funny games going on with the SP. The reaction to the results which were reasonable has been savage. This reads to me like manipulating the price ahead of a control transaction - all imo of course as I can’t prove it but I’ve seen this play many times before.
Ann: Business update, page-4
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