Bouris' tech firm cuts jobs as part of major restructure

19/07/2012 - Mark Bouris' technology company TZ has cut jobs and costs as part of a major restructure of its businesses.

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TZ, which is chaired by the high-profile entrepreneur, said it had overhauled its Telezygology Inc (TZI) and Product Development Technologies Inc (PDT) businesses in an attempt to cut costs.

The move comes after TZ announced in May that TZI had missed out on securing a lucrative tender to supply parcel lockers to Australia Post.

TZ said it had lopped 30 per cent off operational costs at its TZI arm by rationalising operational staff and reorganising its sales and technical operations.

The number of job cuts was not specified.

Another $US1.4 million in costs had been cut from its PDT business to help improve cash flow and profitability.

TZ said based on orders it has in hand, it was confident of achieving its first break-even month in terms of cash flow during the last quarter of the 2013 financial year.

Source: AAP

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