As a result of its poor sales performance over the last three quarters, Pixman has decided to reduce total expenditure to ensure the survival of its business.

During this restructuring period, Pixman will maintain certain essential activities, such as customer service and will support the execution of existing contracts. However, it will significantly slash all its operational costs and so will temporarily reduce its workforce.

Alongside these organizational changes, Pixman’s management will carry out a financial restructuring involving a recapitalization “that is necessary for the development of Pixman’s new applications for mobile devices”.