Mobile marketing software company Plexure has confirmed that 55 people will be made redundant in a cost-cutting exercise to save $8 million.
The company reported a first half loss of $8.5m for the six months ended September.
The dual Australian and New Zealand listed company merged with transaction platform provider Task for $A120m ($127m) in September, with Task chief executive Daniel Houden taking up the chief executive role of Plexure Group.
Following the merger, Plexure reviewed its operations, finding its previous strategy did not generate material sales, and began a consultation process.
The company told the share market this morning the process had finished and that it would cut 55 staff in non-engineering roles.