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Analysts believe Appen’s big weaknesses are also its strengths and there’s every chance the business could rebound.

Appen shares soared after the crowdsourcer announced plans to cut staff numbers as part of a restructure aimed at making it more customer-focused. 

Appen (ASX:APX) share price on watch with restructuring Tristan Harrison | May 19, 2021 9:51am | More on: The Appen Ltd (ASX: APX) share price is on watch this morning after providing a trading update and announcing a restructuring to the market. This restructuring is aimed at aligning to the company’s product-led and consumer-centric strategy, as well as changes to financial reporting to give greater visibility to the drivers and performance of the business. Appen says that the changes reflect its evolution to become a broader range of AI data annotation products and solutions. The new ...

Appen shares surge 10pc on restructure plans Share Appen shares have surged 10 per cent after announcing on Wednesday morning the company will restructure its operations, cut jobs and report in US dollars. The ASX-listed AI data collection, aggregation and cleaning company will establish four new units geared towards different customer segments; global, enterprise, China, and government, and a fresh leadership structure driven by increasing the visibility and accountability of profit and loss goals and sales performance. “Our new structure will drive performance and growth by aligning our b...

ASX sinks; EML sheds 46pc, bitcoin dives 10pc Save Share Sarah Turner The Australian market sank to its worst session since late February, with the benchmark falling 1.9 per cent, or 134 points, to 6931.70. EML led the slide, dropping 46 per cent to $2.35 after the Central Bank of Ireland raised “significant regulatory concerns” about anti-money laundering compliance in EML’s Irish-based subsidiary, acquired in late 2019. Miners and energy companies were the worst performers by sector as St Barbara fell 7 per cent, Perenti dropped 6.3 per cent and Whitehaven Coal fell 6.2 per cent. Th...