Banzai International (BNZI) shares surged past 78% in recent Wednesday trading after the company said Wednesday it's launching an initiative to boost its net income.
The improvement in net income is expected to be about $13.5 million annually when the project is fully implemented, the company said.
Banzai said it plans to reach this via a decrease in annual operational expenses by up to $9.9 million by March 31, 2025, as well as a cut in other expenses by up to $3.6 million.
The project comprises a wide range of measures like workforce adjustments, operational consolidation, and other cost-cutting actions, the company said.
Price: 4.92, Change: +2.16, Percent Change: +78.26
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