CEO John Johnson announces a restructuring that he says is consistent with "accelerating the path to profitability."
According to DNDN, the plan will save around $125M in operating expenses versus the 2013 run rate.
"All expense categories" will be affected as COGS should fall by around $30M and the total number of DNDN employees is expected to be ~820, "down from more than 2,000 at [the company's] peak." (PR)
Shares are getting a modest bump, up 2.5% premarket.