Melbourne-headquartered software vendor LiveTiles has axed 32 jobs amid a global operational and management review.
The company, which makes cloud-based digital workplace software, cut roles including executives, senior management and general staff, which it claims saved $5.48 million.
Dr Marc Stigter, who has served as board chair for the last two years, is also set to depart the company.
The company claimed 12 roles have been changed to “better align with strategy and growth plan”.
LiveTiles first flagged the review and the departure of co-founder, chief experience officer and executive director Peter Nguyen-Brown on 21 September, a month after posting an $818,000 loss for FY22.
Shortly after, fellow Australia-founded software vendor Bigtincan Holdings put an offer on the table to acquire 100 per cent of LiveTiles for around $65 million.
In its latest update to the Australian Securities Exchange (ASX), LiveTiles said it was still assessing the unsolicited offer.
LiveTiles CEO Karl Redenbach said the operational review came in response to shareholder feedback.
Speaking to shareholders, he said: “The review resulted in significant changes which will positively impact the company’s cost base but naturally impact short to medium-term performance.
"We are confident that the combination of cost reductions along with a committed focus on the high impact opportunities will put the company in good stead as we head to 2023.”
Also documented in LiveTiles’ update – and ahead of its then-announced ASX delisting – was the decision to acquire the remaining 80 per cent stake in My Net Zero while focusing more deeply on another recent acquisition, The Human Link.
The company also plans to review its relationships with service providers “to determine which services are providing the most value to customers and staff” and amend software subscriptions through actual reductions and negotiating revised contracts.
Other cost-saving measures also include a change in office space to accommodate hybrid working and reducing spend on external content agencies and focusing on specific in-person events targeting customers.
Its plans for its delisting however have fallen through, as the update said during its recent extraordinary general meeting held on 5 September, the resolution to delist failed to pass, and as such would not be able to save $1.5 million in annual costs due to direct and indirect costs associated with being listed.
It also has put off its rebranding plans for the short-term until the new year, but it intends to continue its plan to move “certain” jobs to Portugal and the Philippines.
