- CalAmp ( NASDAQ: CAMP ) has kicked off a restructuring that will result in cutting 8% of its staff .
- That's a move to realign operations to be more consistent with a software and subscription services business model, the asset-tracking company said.
- “We value our employees highly and considered this initiative carefully, but we believe it was necessary to help accelerate our business model conversion, address our legacy cost structure and drive higher profitability as a Software and Subscription Services business,” said President/CEO Jeff Gardner.
- “These actions do not impact our sales initiatives and will help support our transition while also securing new customers around the world."
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CalAmp cutting 8% of employees in restructuring