Prophecy International to cut workforce by 48%

• Prophecy International has commenced a global restructuring programme to reduce its global headcount by approximately 48%.
• The company's share price declined to $0.078 following the market update.
• The strategic overhaul aims to consolidate functions, lower operating costs, and establish a sustainable cost base.

Prophecy International (ASX:PRO) has launched a global restructure to cut its workforce by approximately 48%.

This operational overhaul follows an internal review of the company's operating model, product direction, and overall business requirements.

The consolidation of certain functions aims to improve organisational alignment and secure a sustainable long-term cost base.

The business expects these structural changes to successfully deliver a reduction in its ongoing global operating costs.

Following the announcement, the Prophecy International share price was down at $0.078.

Final one-off restructure costs and anticipated annualised savings will be confirmed in late August.

The company remains focused on supporting its customers and maintaining business continuity throughout this entire operational transition.