Staffing 360 Solutions (NASDAQ: STAF) plans a reverse stock split that will provide one share for every 10 shares pre-split. The move is aimed at regaining compliance with Nasdaq minimum bid requirements, according to the company’s annual report.

The reverse split will become effective at 4:05 p.m. Eastern time on June 25.

Shares will fall to 639,739 from nearly 6.4 million. Staffing 360 will continue to trade under the symbol STAF.

Staffing 360 recently divested its UK business to private equity firm IPE Ventures. The deal closed Feb. 12.