Undertakes a reduction in force to enhance efficiency in its direct billing channel
BOSTON, January 10, 2023 – Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced a reduction in force for the purpose of improving operating efficiency in its direct billing channel and reduce its cash burn. The action today involved the elimination of approximately 12% of its workforce, impacting employees in its call center and administrative functions. This action and other cost reductions being undertaken by the Company are expected to save in excess of $2 million on an annual basis. Read more.