Brief: Colabor Group Announces A Rationalization Plan

Colabor

16/11/2018 22:44

Colabor Group Inc  GCL.TO :
    * COLABOR GROUP ANNOUNCES A RATIONALIZATION PLAN
    * COLABOR GROUP INC - IMPLEMENTATION OF PLAN RESULTS IN
ELIMINATION OF 51 POSITIONS
    * COLABOR GROUP - MEASURES SHOULD RESULT IN COSTS REDUCTION
OF
APPROXIMATELY $ 2.9 MILLION WHICH WILL PROGRESSIVELY MATERIALIZE
FROM CURRENT QUARTER
    * COLABOR GROUP - PLAN ENCOMPASSES MOST OF CO'S DIVISIONS IN
QUEBEC & ONTARIO, INCLUDING CLOSURE OF ITS LOGAN STREET
CASH-&-CARRY OPERATION IN ONTARIO
    * COLABOR GROUP - IMPLEMENTATION OF PLAN RESULTS IN
ELIMINATION OF
ABOUT 3.7% OF TOTAL WORKFORCE OF CO
    * COLABOR  - TO RECORD CHARGE UNRELATED TO CURRENT
OPERATIONS OF
ABOUT $ 1.1 MILLION, BEFORE TAXES, IN ITS RESULTS FOR LAST
QUARTER OF FISCAL 2018

Source text for Eikon:  ID:nGNX53FC8f 
Further company coverage:  GCL.TO