GO JAWZ!!! NR today.
Wednesday January 10, 3:43 pm Eastern Time
Press Release
JAWZ Announces Strategic Initiatives
Company to Target Key Clients for Growth, Reposition Work Force and Realize Operational Efficiencies
FAIRFIELD, N.J.--(BUSINESS WIRE)--Jan. 10, 2001-- JAWZ Inc. (Nasdaq:JAWZ - news) today announced several strategic and organizational initiatives to enable the company to more effectively focus on serving its most profitable clients, develop its most promising product lines and target the most appropriate geographic regions for growth.
Additionally, reductions in administrative and overhead costs will allow JAWZ to meet its stated goal of becoming cash flow positive within 2001.
``We have refocused our operations to reach our profitability targets and attain overall operational excellence compared with the all out hyper-growth strategy of 1999 and 2000. In essence, we have changed our measurements for success from a staggering growth-based model to that of one encompassing more traditional financial measurement criteria to coincide with today's market expectations. Within this new context, our full concentration will continue to be serving and growing existing relationships with our top clients and building traction with our key partnerships,'' said JAWZ Chairman and Chief Executive Officer Robert Kubbernus.
``We recognize our company was initially built for hyper-growth to the detriment of other parameters,'' continued Kubbernus, ``and as such, we have adjusted our business model and strategy to allow for reasonable growth to reflect the realities of the marketplace.''
Concurrent to the restructuring, JAWZ is conducting a cost reduction initiative. ``We are reviewing every process, every expense, and every supplier agreement to make sure that we are operating as efficiently as possible. And where necessary we will renegotiate each of these,'' added Kubbernus.
The company expects to make additional announcements regarding its new organizational structure and the expected savings realized from changes that are and will be implemented.
The first of the strategic changes was a reduction in workforce specifically addressing areas that did not meet our stated objective of Operational Excellence. Areas that could not demonstrate a return on investment quickly were affected today through the elimination of 37 positions. This leaves a substantial workforce of professionals clearly positioned to not only deliver client engagements, but to also engage in targeted revenue generating business development, sales and after sales service.
About JAWZ Inc.: ``JAWZ by Name - Protective by Nature''
JAWZ Inc. is a leading secure information management solutions provider, specializing in the field of full service information security. The company's products and services line includes security software products, consulting services and secure Internet and remote data storage services. These products are offered to key client groups including governments, law enforcement, healthcare providers, financial services, e-commerce businesses, and telecom suppliers specializing as Application Service Providers (ASP) and Internet Service Providers (ISP). It has 50 established strategic partnerships and approximately 400 corporate clients. JAWZ' International headquarters are located in Toronto, with its US head office in Fairfield, New Jersey. JAWZ employs approximately 250 employees. The company has principal sales and management services offices in Boston, Chicago, California and Orlando, USA and Calgary, Ottawa, Burlington and Edmonton, Canada. For more information, visit www.JAWZinc.com or call 1-888-301-5297. |
