ACI Worldwide, the global electronic payments software and services company for major banks, retailers and processors, announced that despite a slight profit in the second quarter, it’s going to undertake a major restructuring of operations—including undisclosed job cuts—to shave $30 million in expenses for 2008 and 2009.
ACI reported a net profit of $800,000 for Q2 thanks to a $12.2 million bump in service fees, and an 11 percent rise in revenue to $109.2 million. Sales grew 17 percent and recurring revenue moved up 7 percent, according to a release.
While implementing the cost savings plan, ACI also plans to invest $16 million in its professional services, whole payments, risk products and other infrastructure, according to a release.
“We also continue to invest in our services capabilities to enable faster implementation of products while simultaneously working toward a pending restructuring to rationalize our cost structure and more closely align product development activity with business growth,” said CEO Philip Heasley, in a statement.
