Banzai International, Inc. (NASDAQ:BNZI) shares are trading higher on Wednesday after the company announced strategic business initiatives to improve net income.
The company plans to reduce annual operational expenses by up to $9.9 million by March 31, 2025, and other expenses by up to $3.6 million.
The initiative is expected to boost Banzai’s net income by about $13.5 million annually once fully implemented.
In particular, the company expects to cut staffing and contractor expenses by 27%, aiming to maintain agility and innovation.
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