Brief: Atlas Pearls Says To Reduce Number Of Permanent Staff In Perth Office

Atlas Pearls

01/04/2020 23:56

April 2 (Reuters) - Atlas Pearls Ltd  ATP.AX :
    * TAKEN IMMEDIATE ACTION TO REDUCE NUMBER OF PERMANENT STAFF
IN
PERTH OFFICE
    * REDUCED PLANNED HARVEST FOR REST OF 2019/20 BY 70,000
PEARLS
    * THESE UNPRECEDENTED TIMES ARE IMPACTING ON MANAGEMENT OF
ATLAS'S
OPERATIONS AND ARRANGEMENTS FOR SELLING CO'S FINISHED PRODUCTS
    * REDUCED REMUNERATION OF EXECUTIVE CHAIRMAN, BOARD,
AUSTRALIAN
OFFICE STAFF & INDONESIAN EX-PATS BY 20% FOR PERIOD APRIL 1 TO
JUNE 30
    * REDUCED PLANNED HARVEST FOR REST OF 2019/20 BY 70,000
PEARLS
    * IMPLEMENTED COST SAVING MEASURES TO ACCOMMODATE LOWER
EXPECTED
SALES IN JUNE 2020 QUARTER
    * COMMENCED A REVIEW OF INDONESIAN OPERATIONS TO ACHIEVE
SAVINGS
COMMENSURATE WITH 20% REDUCTION IN SALARY COSTS

Source text for Eikon:  ID:nASX2zTK7Y 
Further company coverage:  ATP.AX 

 ((Reuters.Briefs@thomsonreuters.com;))