LiveTiles announced a restructure and cost reduction plan aimed at achieving positive cash flow.

With the new strategy, the company plans on implementing a global headcount reduction of forty-eight, which will include a mix of full-time employees and fixed-term contractors.

The company’s CEO, David Vander, has tendered his resignation as part of the changes.

LiveTiles is also speeding up efforts aimed at lowering operating costs such as exiting non-core office spaces, lowering IT related costs, among other measures.

The newly initiated cost reduction program is projected to help LiveTiles save around AU$16.2m in annual costs and AU$8.4m in FY24.

The changes are expected to provide the company with additional operational advantages fiscal year 2024.

LiveTiles is a global software company that provides cloud-based business collaboration tools for companies.