January 19, 2010 (FinancialWire) — NutraCea (OTC: NTRZ) has launched a 17% reduction in its U.S. workforce in an effort to improve the company’s cost structure.

NutraCea said the reduction should save the company around $1 million annually. It added that the move does not impact the workforce at Irgovel, NutraCea’s Brazilian subsidiary.

Company CEO John Short said the that NutraCeo’s goal continues to be to reduce costs and increase profitable sales in an effort to enhance the company’s liquidity and become cash flow positive in the second half of 2010.

On November 10, 2009 NutraCea filed for court-supervised protection to restructure its operation under Chapter 11 of the US Bankruptcy Code.

Scottsdale, Arizona-based NutraCea is in engaged in the production and utilization of stabilized rice bran, which is normally a waste by-product of standard rice processing.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.