Brief: Alimak To Cut About 120 Jobs In A Reorganization

Alimak AB (publ)

07/10/2020 09:35

Oct 7 (Reuters) - Alimak Group AB (publ)  ALIG.ST :
    * ALIMAK GROUP RESTRUCTURES AND REORGANISES WITH MSEK 60 IN
TARGETED ANNUALISED SAVINGS
    * NON-RECURRING COSTS WILL BE TAKEN IN Q3 (MSEK 35) AND Q4
2020
(MSEK 25).
    * REORGANISATION, IN COMBINATION WITH RESTRUCTURING, WILL
RESULT
IN A NET REDUCTION OF APPROXIMATELY 120 EMPLOYEES (80 PRODUCTION
AND 40 SG&A).
    * REDUCTION IS EXPECTED TO GENERATE ANNUAL SAVINGS OF AROUND
MSEK
60, WITH FULL EFFECT BY END OF H1 2021.
    * THESE ACTIONS WILL RESULT IN NON-RECURRING COSTS OF
APPROXIMATELY MSEK 60, OF WHICH MSEK 35 WILL BE BOOKED IN Q3
2020 AND ANOTHER MSEK 25 IN Q4 2020.

Source text for Eikon:  ID:nWkrF0f02 
Further company coverage:  ALIG.ST 

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