GlobalSCAPE to reduce workforce by about 40 as part of cost realignment
GlobalSCAPE announced a reduction in force that is expected to generate significant pre-tax savings. The company has been executing a strategy to streamline its organization around its flagship offering - Enhanced File Transfer. These changes apply globally, although the changes are mainly focused in North America. Part of this strategy is to enable GlobalSCAPE to better focus on its customers running EFT while remaining agile enough to adjust to market demands. The reduction will impact approximately 40 employees. Customary transition assistance will be provided to affected employees. Due to the reduction in force, the company expects to incur total restructuring charges in the third quarter 2018 of approximately $400,000 on a pre-tax basis.