China-based Sungy Mobile Limited (GOMO) Thursday announced workforce reduction of about 100 employees or about 12 percent of overall workforce by the end of October.
The company said the announced restructuring plan will help it to reallocate resources towards strengthening and expanding its flagship GOSeries platform of applications.
CEO Yuqiang Deng said, "Following our second quarter announcement, we continue to strategically realign our attention and resources towards strengthening our mobile applications platform, primarily our GOSeries portfolio. We believe that this corporate restructuring plan will enable us to more efficiently allocate resources towards the expansion of our mobile business both organically and through strategic acquisitions and enable us to continue to leverage and monetize our large user base."
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