AudioCodes Announces Cost Reduction Steps
Lod, Israel – January 13, 2009 – AudioCodes (NasdaqGS: AUDC), a leading provider of Voice over IP (VoIP) technologies and Voice Network products, today announced that, effective January 15 2009, AudioCodes will implement a global wage reduction of 6% for all employees and 10% for management employees. This reduction in costs is in addition to the ongoing cost reduction programs adopted by AudioCodes' management.
“The implementation of cost reduction steps and a wage cut by the Company is designed to allow us to strengthen our operational efficiency and to retain our competitiveness in the face of the current global economic crisis,” said Shabtai Adlersberg, Chairman of the Board, President and Chief Executive Officer at AudioCodes. “We gratefully acknowledge the sincere and significant contribution of our employees towards achieving our goals,” he added.