Jan 20 (Reuters) - March Networks Corp MN.TO said it will cut about 7 percent of its global workforce as it tries to reduce operating expenses amid growing economic uncertainty.
The intelligent IP video and business analysis applications provider also announced a 6 percent salary roll-back for all its North American executives and staff.
The company said it will record a charge of about C$900,000 in the third quarter. It expects a reduction in annual operating expenses of about C$3.2 million.
Shares of Ottawa-based March Networks were trading down 10 Canadian cents at C$1.95 in afternoon trade Tuesday on the Toronto Stock Exchange. ($1=1.261 Canadian Dollar) (Reporting by Richa Dubey in Bangalore; Editing by Anne Pallivathuckal)