- Streamline Health Solutions is cutting 24% of its workforce, or 26 employees
- The company expects to incur a one-time restructuring charge of $800,000 to $1.2 million
- Streamline Health aims to achieve annualized cost savings of approximately $5.8 million
- The company received a termination notice from a legacy client, resulting in a loss of about $4.5 million in annualized revenue
- Benjamin Stilwill has been appointed as the new CEO, replacing Wyche Green who will become executive chairman
- Bryant Reeves has been named interim CFO, succeeding Thomas Gibson
Streamline Health Solutions is making significant changes to its workforce and management. The company is cutting 24% of its workforce, which amounts to 26 employees. This decision is driven by the loss of a legacy client, resulting in a termination notice and a loss of approximately $4.5 million in annualized revenue. To address these challenges, Streamline Health expects to incur a one-time restructuring charge of $800,000 to $1.2 million. The company aims to achieve annualized cost savings of about $5.8 million. As part of the restructuring, Benjamin Stilwill has been appointed as the new CEO, replacing Wyche Green who will transition to the role of executive chairman. Additionally, Bryant Reeves has been named interim CFO, succeeding Thomas Gibson.
