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GuestLogix Announces Operational Restructuring Designed to Enhance Future Financial Results - Company Reduces Headcount and Implements Initiatives to Realize Acquisition Synergies - GuestLogix.com
GuestLogix Announces Operational Restructuring Designed to Enhance Future Financial Results

 

PRZOOM - /newswire/ - Toronto, Ontario, Canada, 2015/04/07 - Company Reduces Headcount and Implements Initiatives to Realize Acquisition Synergies - GuestLogix.com. TSX: GXI

   
 
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GuestLogix, Inc., the leading global provider of ancillary-focused merchandising, payment and business intelligence technology to airlines and the passenger travel industry, today announced that it has implemented an operational restructuring plan that will result in a reduction of approximately US$2 million in annual operating expenditures through a global initiative that reduces headcount by approximately 7% of its global workforce.

“We are implementing the necessary operational changes announced today to address our integration with the recently announced acquisition of Dublin-based OpenJaw Technologies,” said Brett Proud, President & CEO of GuestLogix. “Going forward, we believe our leaner more streamlined organization structure allows us to grow profitably and scale quickly.”

In addition to this restructuring initiative, GuestLogix expects to realize cost reductions including corporate shared service synergies, product development rationalization, sales and go-to-market strategy simplification and business process improvements in the coming quarters.

About Guestlogix, Inc.

GuestLogix, Inc. (guestlogix.com | openjawtech.com), is a global leader in comprehensive merchandising, payment and business intelligence technology delivered to the passenger travel industry, both onboard and off-board. Bringing over a decade of expertise as the industry’s most trusted onboard transaction processing partner to airlines, rail operators and elsewhere in the passenger travel industry, GuestLogix powers the industry’s growing reliance on ancillary revenue generation. Both direct to operators as well as through partnerships with global leaders in catering, duty-free, inflight entertainment and self-service retail experts, the Company provides the payment services touching over 1 billion travelling consumers each year. On December 23, 2014, GuestLogix announced the acquisition of OpenJaw Technologies, a Dublin-based technology company focused on travel retailing innovation in the e-commerce segment. GuestLogix' global headquarters and centre for product innovation is located in Toronto, with regional head offices located in Dallas, London and Hong Kong, and a Product Innovation Lab located in Moncton.

© 2015 GuestLogix. All Rights Reserved.

Forward-Looking Statements
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate","believe","plan","estimate","expect","intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on March 16, 2015 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

 
 
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GuestLogix Announces Operational Restructuring Designed to Enhance Future Financial Results

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GuestLogix, Inc. |
Contact: Dan Thompson - GuestLogix.com 
416-849-1566 dthompson[.]guestlogix.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any GuestLogix, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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