TradeWindow slashes staff and cash burn

TradeWindow CEO AJ Smith.

Wed, 29 Nov 2023

Customs and freight forwarding software firm TradeWindow is moving to cut its cash burn from $1 million a month this financial year to below $200,000 a month as it battles adverse capital market conditions and a failed investment deal.The Auckland-based company announced it was slashing headcount by 40% to a total of 48, on top of earlier announced reductions that mainly affect its research and development activities.Directors and senior management are to take temporary salary reductions, with the company reporting strong growth in recurri...

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