As a part of a company-wide cost saving initiative, multiscreen service provider SeaChange has cut 10% of its global workforce and decreased its outsourcing contracts. The move is expected to result in more than $1.3mln in restructuring and severance charges in 4Q of fiscal 2015 and beyond—but also generate approx $11mln in savings. The company has been trying to transition into a software-focused company, leveraging advanced video platforms including Adrenalin and Nucleus. “With Adrenalin and Nucleus established in the marketplace, we can now orient our industry-leading resources toward capturing the lead in additive applications to help our core customers grow revenues and expanding our customer base into new segments such as OTT video services,” CEO Jay Samit said in a statement.

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