Brief: Azelio Reduces Costs

Azelio AB

09/06/2022 07:42

June 9 (Reuters) - Azelio AB  AZELIO.ST :
    * TO IMPROVE EFFICIENCY AND REDUCE COSTS BY SEK 150 MILLION
    * TRANSFORMATION IS ESTIMATED TO REDUCE COSTS BY APPROX. SEK
150
MILLION ON AN ANNUALIZED BASIS
    * HAS DECIDED TO TRANSFORM ITS ORGANIZATION AND GIVE NOTICE
TO
SWEDISH PUBLIC EMPLOYMENT SERVICE REGARDING 100 EMPLOYEES
    * REVIEW HAS BEEN CARRIED OUT IN LIGHT OF CURRENT MARKET
SITUATION
AND DEMANDS MARKET PUTS ON NEW INNOVATIVE PRODUCTS, SUCH AS
OPERATING DATA FROM LOCAL SYSTEMS
    * COMPANY AIMS TO IMPLEMENT BULK OF TRANSFORMATION DURING Q3
OF
2022
    * COMPANY ESTIMATES THAT CAPITAL NEED WILL BE SEK 250-400
MILLION,
COMPARED TO PREVIOUSLY COMMUNICATED SEK 300-500 MILLION

Source text for Eikon:  ID:nWkr8p8Fvx 
Further company coverage:  AZELIO.ST 

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