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iSentia makes 6 redundant as market value hits new low
May 20, 2021 11:22
Media monitoring company iSentia has made six redundancies and a number of staff changes to its commercial team as its share price and market value plummet.
A statement from the company said that the redundancies and subsequent promotions in the Australian and New Zealand Commercial division were “in line with the automation of client services, including the broadcast transformation program,” and as a result “some manual processing roles aren’t required”.
Harrison, CEO of Isentia
iSentia’s market capitalisation is down to approximately $13.34 million, according to the Australian Securities Exchange (ASX) with a share price of $0.068 to $0.070. This is in stark contrast to its former value of close to $1 billion in December 2015 ($986 million) and a share price of $5.00 in the corresponding period. It was during that time that the business purchased the failed King Content.