Leatt Restructures South African Branch Office to Improve Efficiency and Profit
CAPE TOWN, SOUTH AFRICA, May 03, 2010 (MARKETWIRE via COMTEX) -- Leatt Corporation (PINKSHEETS: LEAT), a Nevada, USA Corporation headquartered in Cape Town, South Africa, and the developer of the Leatt-Brace(R), a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), announced today that Leatt Corporation has restructured its operations to improve the Corporation's performance and improve profitability.
Dr. Leatt, the Chief Executive Officer of Leatt Corporation, said, "After a thorough evaluation of our business and the current market conditions, we have made the difficult decisions required to reposition the company for future growth and profitability. This has involved reducing the number of staff, including one executive operations position, not involved in core product competencies. We plan to outsource non-core activities moving forwards. The duties of the former employees will be or have been transitioned to other employees or agents of the Company. This will hopefully reduce redundancy and overheads. The goal of this process is to refocus on our core competencies and unique position in the marketplace. This strategic restructuring should reduce our financial losses and allow for sustained growth." |
