Hoboken-based investment management solutions company Liquid Holdings Group Inc. recently announced it is reorganizing its operations and support teams, including “employee and headcount reductions in the U.S., which have been implemented immediately.”The software-as-a-service provider said in a news release Thursday that it is creating a single service center in order to streamline its client services and technical support teams. The hope it is that this will increase operating efficiencies and reduce Liquid’s cost structure.
Liquid declined to comment further on the reorganization, including how many workers might be affected and where they were located.
“Since our beginning, we have focused on leading the industry in providing the highest level of client service,” Peter Kent, chief executive officer, said in a prepared statement. “We are at the right point in our growth to take steps to ensure we have the best structure in place to meet that goal. We view the creation of a single service center as a critical next step, following our recent office consolidation, which helped to improve communication and identify redundancies across teams responsible for servicing our customers.
“Moreover, these changes will reduce cash burn and provide the business with additional runway to execute on our growth objectives.”
In May, Liquid announced it had moved out of its New York City headquarters, instead taking space at an existing facility at 111 River St. in Hoboken. It subleased the previous headquarters, while maintaining a sales presence in the 800 3rd Ave. building.
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