Blackbird PLC (AIM:BIRD, OTCQX:BBRDF) told investors it has undertaken a restructuring which has resulted in a number of people leaving the company.
The restructuring has led to an estimated £500,000 of annual cost savings, it added.
"Our streamlined team located across the major media markets of London, Los Angeles and New York, will continue to service and manage our global clients to an excellent standard,” Blackbird chief executive Ian McDonough said in a statement.
“We are focusing on key direct and OEM growth opportunities in North America, LatAm and Europe. We also see future scale coming from our direct-to-creator SaaS platform and we are resourcing this opportunity appropriately.
“I am excited about our prospects, both from the conversations we are currently holding in the Media & Entertainment area and with our new SaaS platform.
“We are well funded with circa £9mln of cash and I look forward to updating shareholders on progress over the coming months," McDonough added: