Nov 30 (Reuters) - GSI Technology Inc:
* GSI TECHNOLOGY ANNOUNCES STRATEGIC COST REDUCTION INITIATIVES
* GSI AIMS TO REDUCE ITS OPERATING EXPENSES BY APPROXIMATELY $7.0 MILLION ON AN ANNUALIZED BASIS
* COST REDUCTION INITIATIVE IS EXPECTED TO BE COMPLETED BY MARCH 31, 2023, WILL RESULT IN ABOUT 15% DECREASE IN GSI'S GLOBAL WORKFORCE
* EXPECTS TO INCUR APPROXIMATELY $850,000 IN TERMINATION COSTS, INCLUDING PAYOUT OF ACCRUED VACATION
* PLANNED SPENDING REDUCTIONS WILL NOT IMPACT LAUNCH OF GEMINI-I IN TARGET MARKETS, INCLUDING SAR, SEARCH, AND SAAS Source text for Eikon: Further company coverage: