StockMarketWire.com - Marketing services group XLMedia said it would reduce its headcount as part of a strategy overhaul.

The company did not specify how many jobs would be cut, only saying that the measures were expected to generated more than $5m of annualised savings.

'In support of executing the group's new strategy based around quality over quantity, management have now concluded a review of its core functions and associated headcount,' XL Media said.

'As a result, management have identified a number of functions and roles which could be streamlined as the business seeks to leverage both automation and outsourcing, whilst also gravitating towards increased editorial.'

The associated savings in 2020 would be offset by investment in product offering and other strategic initiatives, including expanding the company's US sports and personal finance footprint.

Chief transformation officer Sarah Clark had been appointed chief operational officer, while former Microsoft and Google executive Xen Lategan had been appointed as an interim technology consultant.




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