Brief: Coor Service To Implement Cost Control, Staff Reductions

Coor Service Management Holding AB

25/10/2023 07:11

Oct 25 (Reuters) - Coor Service Management Holding AB
 COOR.ST :
    * LAST 12 MONTHS CO HAS GENERATED OPERATING MARGIN OF 4.8%,
WHICH
IS NOT IN LINE WITH THE MARGIN TARGET OF 5.5%
    * THEREFORE IMPLEMENTING AN ACTION PROGRAM TO ACCELERATE
PROFITABILITY TOWARDS THE FINANCIAL TARGET
    * ACTION PROGRAM INCLUDES EXTENDED COST CONTROL, STAFF
REDUCTIONS
    * ONCE FULLY IMPLEMENTED, THE ENTIRE ACTION PROGRAM IS 
EXPECTED
TO HAVE AN ANNUAL EFFECT OF APPROXIMATELY SEK 100  MILLION
    * TOTAL ESTIMATED COST OF PROGRAM IS ABOUT SEK 40 MILLION,
MOST TO
BE INCLUDED IN EARNINGS FOR Q4 WHEN THE STAFF  REDUCTIONS ARE
PUT INTO EFFECT

Source text for Eikon:  ID:nWkr65VpPR 
Further company coverage:  COOR.ST 

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