Core Viewpoint - Quarterhill Inc. announced a workforce reduction of approximately 100 positions, representing about 15% of total headcount, aimed at reducing costs and aligning resources with long-term strategic priorities [1][2][3] Group 1: Workforce Reduction Details - The workforce reduction will affect both contract and full-time roles in roughly equal measure, expected to generate annualized cost savings of approximately US$12 million [2] - The reduction primarily targets operational areas impacting cost of sales, with partial benefits anticipated in 2025 and full benefits expected in 2026 [2] Group 2: Management Perspective - CEO Chuck Myers emphasized the necessity of these changes to ensure the company remains focused and well-positioned for long-term growth, marking a critical milestone towards achieving positive Adjusted EBITDA margins and operating cash flow [3] Group 3: Company Overview - Quarterhill is a leading provider in the Intelligent Transportation System (ITS) industry, focusing on tolling, safety and enforcement, and logistics solutions, with a goal of technology-driven global leadership through organic growth and acquisitions [4]