Brief: Absolent Group Initiates Cost Reduction Program
09/06/2020 14:03
June 9 (Reuters) - Absolent Group AB ABSO.ST :
* ABSOLENT GROUP INITIATES COST REDUCTION PROGRAM
* ABSOLENT GROUP AB - TO REDUCE COSTS WITHIN GROUP.
* ABSOLENT GROUP AB - ONE-TIME EXPENSES ARE EXPECTED TO IMPACT Q2 OF 2020
* ABSOLENT GROUP AB - ACTION PROGRAM IS EXPECTED TO START HAVING A FULL EFFECT DURING LAST
QUARTER
OF 2020.
* ABSOLENT GROUP AB - AS A LONG-TERM MEASURE, NEW COMPANY-WIDE COST REDUCTION PROGRAM IS
ESTIMATED
TO GENERATE ANNUAL SAVINGS OF 50-60 MSEK
* ABSOLENT GROUP AB - NEW COMPANY-WIDE COST REDUCTION PROGRAM WILL RESULT IN ONE-TIME
EXPENSES OF
APPROXIMATELY 40-50 MSEK
* ABSOLENT GROUP AB - IN TOTAL, ABSOLENT GROUP EXPECTS TO REDUCE GLOBAL WORKFORCE BY ABOUT A
QUARTER OF TOTAL 530 EMPLOYEES WITHIN NEXT SIX MONTHS
* ABSOLENT GROUP AB - WE ESTIMATE THAT ABOUT 20 EMPLOYEES WILL BE AFFECTED IN SWEDEN, 80
EMPLOYEES
IN UNITED KINGDOM AND REMAINDER IN REST OF WORLD
Source text for Eikon: ID:nBQN5WgRTd
Further company coverage: ABSO.ST
(Gdansk Newsroom)
((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))