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![]() ![]() Smith alluded to a hiring freeze and headcount reductions during the call. He said the company plans to reduce selling, general, and administrative costs from 16% to the low double digits by next year. The CFO told analysts, “As a result of building our business via a number of acquisitions and the manual nature of a number of our processes, our cost base is higher than it needs to be.” Smith made clear that cost-cutting is a priority as the company aims to become profitable.
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