Appen Ltd. (AU:APX) has released an update.
Appen Limited faced a challenging year in 2023, with a significant statutory loss of $118.1 million and a notable decline in operating revenue by 29.7%, primarily due to lower tech spending by its largest customer. In response to these setbacks and to navigate the tough macro conditions, Appen is taking decisive steps to reset the business such as refreshing leadership and cutting costs, aiming to leverage its position in the generative AI services market.
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