Mdf Inc. CA:MDF said Monday it has reduced its work force by 19% including a 10% global workforce reduction and a 9% reduction from the sale of its InterTrade unit. The company has 800 employees, according to FactSet data. The Montreal company, which sells e-commerce software and services for the automotive aftermarket, consumer solutions, diamonds and jewelry, electronics components, information technology, telecom, and other businesses, said the job cuts are in “response to macroeconomic conditions and shifting client priorities.” The company reported third-quarter net income of 34 cents a share in Canadian dollars, an adjusted loss of 18 cents a share, and revenue of C$31.65 million, compared to analyst estimates for a loss of 7 cents a share and revenue of C$30 million, according to FactSet data. Shares of Mdf Inc. are up 11.4% in 2023, compared to a 12% rise by the Nasdaq COMP.
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