Quickflix to trim staff, close Sydney, Auckland offices.

2016-04-04_1354

Perth-based SVOD and DVD rental company Quickflix is to cut 15% of its workforce and close Sydney and Auckland offices as it prepares to raise a further $2m through an equity sale.

The company has told the Australian Securities Exchange it will slash the salaries of founder and CEO Stephen Langsford and CFO Simon Hodge.

‚ÄúThese additional ongoing savings amount to over $1m per annum and are not expected to have a significant impact on core day to day services,” it said in a statement.

Quickflix has been in a trading halt on the ASX since the middle of 2015.

Source: AdNews, Mumbrella

One Comment:

  1. I put my account on ‘Pause’ six weeks ago. Everything I want is not available or a “Long Wait”. So back to DVDs coming from Perth, via Australia Post, to NSW. Oh dear.

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