Dec 7 (Reuters) - Otherlevels Holdings Ltd OLVXX.AX :
* Otherlevels announces organisational restructure OLVXX.AX
* Says it is restructuring its US operations and consolidating headquarter activities
* Annualised cost savings are estimated to exceed AUD$ 1 million
* Says "company founder, Brendan O'Kane, will become Managing Director and CEO"
* Restructure involves the retrenchment of US based CEO Ramsey Masri and three other non- customer facing staff in the San Francisco office
* Says Otherlevels expects cash receipts for the quarter to December to be stronger than in the previous quarter
* Source text for Eikon ID:nASXbpc6wY