Artificial Intelligence Technology Solutions, Inc. announced a company-wide cost reduction plan targeting…
AITXDArtificial Intelligence Technology Solutions Inc.
Artificial Intelligence Technology Solutions, Inc. announced a company-wide cost reduction plan targeting approximately $200,000 in monthly cash SG&A savings, or $2.4 million annualized. The plan involves reducing the workforce by seven positions (5% of global staff) and cutting outside consultant and contractor costs. Implementation is expected to be complete by December 31, 2026, with the goal of achieving positive monthly cash flow from operations by that date. This supersedes a previous objective set in January 2026. The company continues to rely on external financing, including a variable-priced equity facility with $10 million remaining availability and loans owed to entities controlled by a single individual. Artificial Intelligence Technology Solutions, Inc. develops and operates AI-driven security and productivity solutions for enterprise clients.
More from Artificial Intelligence Technology Solutions Inc.
