Tomi Environmental Solutions Announces Cost Reduction Efforts To Sustain Long Term Growth And Achieve Profitability; Expects To Reduce Cash Used In Operations By ~$500,000 By End Of 2024; To Continue To Invest In Sales Personnel And Global Distribution Network To Expand Product Reach
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Tomi Environmental Solutions (NASDAQ:TOMZ) announces cost reduction efforts to achieve long-term growth and profitability, expecting to reduce cash used in operations by ~$500,000 by the end of 2024. The company will continue to invest in sales personnel and global distribution to expand product reach.
June 06, 2024 | 4:55 pm
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Tomi Environmental Solutions (TOMZ) is implementing cost reduction measures to save ~$500,000 by the end of 2024, while continuing to invest in sales and global distribution. This move aims to align the company's cost structure with profitability goals.
The cost reduction measures, including restructuring executive compensation and reducing external consulting fees, are expected to save ~$500,000 by the end of 2024. This aligns with the company's profitability goals and should positively impact the stock price in the short term.
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