January 31, 2018 / 10:33 PM / 4 months ago

BRIEF-Pandora cut jobs, expects $45 mln savings

Jan 31 (Reuters) - Pandora Media Inc:

* PANDORA REDESIGNS ORGANIZATION TO DRIVE STRATEGIC PRIORITIES AND ACCELERATE GROWTH

* PANDORA MEDIA-COMBINATION OF ELIMINATED ROLES, OTHER COST-SAVING MEASURES EXPECTED TO RESULT IN ANNUALIZED SAVINGS OF ABOUT $45 MILLION TO ADJUSTED EBITDA​

* PANDORA MEDIA - ‍EXPECTS OPERATING EXPENSES, EXCLUDING. SUBSCRIPTION COMMISSIONS, TO REPRESENT LOWER PERCENTAGE OF REVENUE IN FY 2018 THAN 2017​

* PANDORA MEDIA INC - ‍ALSO ANNOUNCED PLANS TO EXPAND ITS PRESENCE AND WORKFORCE IN ATLANTA​

* PANDORA MEDIA INC - ‍ALSO ANNOUNCED PLANS TO EXPAND ITS PRESENCE AND WORKFORCE IN ATLANTA​

* PANDORA MEDIA - ‍SAVINGS FROM COST-SAVING MEASURES WILL BE REINVESTED IN AD-TECH, NON-MUSIC CONTENT, DEVICE INTEGRATION,MARKETING TECHNOLOGY​ Source text for Eikon: Further company coverage:

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