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BRIEF-LM Funding America implements cost cutting initiative
2016年8月31日 / 下午3点02分 / 1 年前

BRIEF-LM Funding America implements cost cutting initiative

Aug 31 (Reuters) - LM Funding America Inc :

* LM Funding implements cost cutting initiative

* Says has implemented a cost cutting initiative that is expected to reduce expenses by approximately $2 million annually

* Measures include reducing non-sales related back office personnel by 30%, reducing back office wages up to 20%

* Cost cutting measures include lowering company’s executive base compensation by 30%.

* Says LM Funding’s president Sean Galaris will be leaving company at year-end

* In additional to cost cuts and management changes, co recently listed several of REO properties for sale in South Florida market

* LM Funding America Inc says cost cutting initiative is expected to be completed by beginning of Q4 2016, includes streamlining internal processes Source text for Eikon: Further company coverage:

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