Brief: Forum Energy Technologies Says Implemented Several Cost Reduction Actions, Including Lowering Headcount

Forum Energy Technologies

06/07/2020 12:08

July 6 (Reuters) - Forum Energy Technologies Inc  FET.N :
    * FORUM ENERGY TECHNOLOGIES INC - IMPLEMENTED SEVERAL COST
REDUCTION ACTIONS, INCLUDING LOWERING HEADCOUNT
    * FORUM ENERGY TECHNOLOGIES INC - IMPLEMENTED FOR SELECT
EMPLOYEE
GROUPS AND CLOSING CERTAIN FACILITIES
    * FORUM ENERGY TECHNOLOGIES - EXPERIENCED  MATERIAL
REDUCTION IN
DEMAND FOR MANY OF PRODUCTS AND THUS, ITS REVENUE
    * FORUM ENERGY TECHNOLOGIES - EXPECTS TO HAVE SIGNIFICANT
NEGATIVE
IMPACT ON DEMAND FOR PRODUCTS, RESULTS OF OPERATIONS OVER NEXT
SEVERAL QTRS
    * FORUM ENERGY TECHNOLOGIES INC - ENGAGED WITH CERTAIN
STAKEHOLDERS AND EXCHANGE TRANSACTION TO IMPROVE ITS MATURITY
PROFILE
    * FORUM ENERGY TECHNOLOGIES - IF PROPOSED TRANSACTION, ARE
NOT
SUCCESSFUL, CO WILL NEED TO CONSIDER OTHER ALTERNATIVES,
INCLUDING BANKRUPTCY

Source text for Eikon:  ID:nBw2SzBH4a 
Further company coverage:  FET.N 

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