Brief: Electrolux Professional Updates On Previously Announced Cost Saving Measures

Electrolux Professional AB (publ)

29/09/2020 12:03

Sept 29 (Reuters) - Electrolux Professional publ AB
 EPROb.ST :
    * UPDATE ON PREVIOUSLY ANNOUNCED COST SAVING MEASURES
    * MEASURES, TOGETHER WITH ALREADY IMPLEMENTED ACTIVITIES,
HAVE NOW
BEEN DEFINED AND ARE EXPECTED TO GENERATE YEARLY COST SAVINGS OF
APPROXIMATELY SEK 130M AND ONE-OFF RESTRUCTURING CHARGES IN Q3
OF 2020 OF SEK 75M
    * MEASURES INCLUDE REDUCTION OF APPROXIMATELY 210 EMPLOYEES
GLOBALLY, BOTH PRODUCTION AND NON-PRODUCTION POSITIONS
    * SAVINGS ARE EXPECTED TO HAVE A YEARLY RUN RATE OF SEK 110M
FROM
Q2 OF 2021 AND A FULL YEARLY RUN RATE OF SEK 130M FROM Q2 OF
2022

Source text for Eikon:  ID:nWkr72rK0v 
Further company coverage:  EPROb.ST 

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