Hypercom said yesterday it has completed its overhaul of the company and will cut 100 jobs today including 21 senior management positions. The plan also calls for the elimination of more than 25 employee annual pay packages in excess of $100,000 each. Top jobs included EVP, SVP, VP and Regional President positions. The move is expected to create annualized savings in excess of $15 million. However, the changes will result in one-time employee termination costs estimated at $1.6 million. Hypercom says more cost reduction action will be taken in the third quarter. The Company previously reported a 10% increase in net revenue for the first quarter, however, Q1 gross profit declined more than 9% due to $3.7 million in special charges. First quarter revenue was $54.5 million, compared to $49.6 million for 1Q/04. Gross profit declined from $20.5 million for 1Q/04 to $18.6 million. For complete details on Hypercom’s latest performance, visit CardData ([www.carddata.com]).